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Venezuela Looks To Play Mediator Between OPEC And Russia

Venezuela is in discussions with OPEC and Russia about the current oil price collapse, Nicolas Maduro said on Thursday at a press conference shown on Twitter, according to Russian news agency TASS.

According to Maduro, Venezuela reached out to its “partners” to take steps toward opening up a new dialogue between OPEC and non-OPEC nations.

Venezuela, an oil-dependent economy that has seen its production drop by half over the last couple of years, has already been dealing with low oil prices, with the price of its Merey falling almost $20 per barrel month on month in February, or 35%, mostly from lower demand in China, according to OPEC’s most recent Monthly Oil Market Report.

It is particularly susceptible to even lower oil prices of today and is motivated to bring the two spatting parties together.

Venezuela continues to suffer under the weight of US sanctions and today, the United States added another subsidiary of Rosneft—TNK Trading International SA (TTI)—for supporting Maduro’s regime, according to a Thursday statement from the US Department of Treasury.  

TTI took over the handling of Venezuela’s oil trade after the US sanctioned another Rosneft subsidiary, Rosneft Trading SA (RTSA) for brokering the sanctioned country’s crude. According to the US Department of Treasury TTI purchased 14 million barrels of crude from PdVSA.

The sanctions block all property and interests in property of TTI that are in the US or in the possession or control of US persons, as well as any entities that are owned, directly or indirectly, 50 percent or more by the designated individuals and entity.

The sanctions will include a wind-down period until May 20, for both RTSA and TTI. The US reiterated its intention of lifting the sanctions “for those who take concrete, meaningful, and verifiable actions to support democratic order in Venezuela.”


The Trump administration has in the past referred to Rosneft Trading as the “gravest violator” of the imposed limits on Maduro as much of the Western world wants him ousted.

By Julianne Geiger for Oilprice.com

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  • Aceof Spades on March 12 2020 said:
    Casino Royale

    Honorable Representative and Presidential Candidate Gabbard,

    It looks like Biden will receive the nomination…and there is not much you can do…or is there?

    What if there was one bet you could make….like James Bond in that Casino Royale poker scene…all or nothing….and it has to do with the most important topic of our time….COVID-19…..and if you’re right….you win!

    So what are your odds of winning this bet should you chose to accept it? Pretty damn good!

    The bet is that China already has a COVID-19 vaccine and has been using it to inoculate its population for quite some time.

    Recently I attended a benefit that was organized by a group of doctors and sure enough many discussions concerned the coronavirus. To make the long story short, all the doctors I talked to agreed with me that the only possible way that COVID-19 could have been stopped in China…a country so densely populated…is through a vaccine. How is it possible for only a few hundred thousand to become infected with a highly contagious virus in a country of nearly 1.4 billion people? One possibility is that China is lying about the number of cases, but Tim Cook doesn’t think that China is lying and I believe Tim.

    So the virus has been effectively stopped in China, and Mr. Cook has confirmed it. Only an effective vaccine can stop this highly contagious virus in the most densely populated country on the planet…nothing else can….because COVID-19 can be spread by people without symptoms…which makes it much more contagious than the flu.

    Mr. Cook has thousands of employees in China…and access to hundreds of millions of e-mails between Chinese people on a daily basis. The only way he would make such a definitive statement about COVID-19 being conquered in China is if he knew for a fact that China has already been vaccinating its people.

    But how could China have a vaccine in such a short time? Well, there is only one explanation for China already having tens of millions of doses of vaccines: COVID-19 was engineered in a bio lab.

    The release of the COVID-19 was not accidental... but guess what....it was not ordered by China... but it was from a Chinese bio lab... and this lab also had the capability to make vaccines from day zero. Clearly there was foul play.

    So why would anyone do this? Why would an operative inside a Chinese bio weapon lab unleash the virus in order to force China to vaccinate its population against a virus made in China's labs?

    Well, I have my opinions as to who did it and why. What is certain is that those responsible for this evil plot will easily triple their net worth….and that’s a conservative estimate.

    You are not betting on why some worldwide secret organization did this or if this was indeed such an organization. This would be a more difficult bet…a Quantum of Solace bet….and you are too valuable and too important to take that risk…leave that bet for a nobody like me….an expandable deplorable.

    You are only betting on the very high probability that China already has an effective vaccine and has used it and probably also gave it to North Korea. If you make this statement and if it is proven correct, you win….all of America wins….all of the world wins.

    China is pretending to be working on vaccines that it has already used effectively, and soon Xi will lie to the world that they finally succeeded in making a vaccine….because China doesn’t want to look bad and admit to what has happened. China is acting exactly how the “illuminated architects” responsible for this COVID-19 calamity have predicted China would behave. China has to pretend that it will start inoculating its people even though China has been doing it for many weeks already, perhaps even months. Otherwise, the world community will suspect something. China is running out of time on a vaccine breakthrough announcement….because there is no way in hell that China has contained this very contagious virus without a vaccine.

    So now all we need for our theory to hold water is for China to announce that it will start vaccinating its people in a few weeks….because that’s the only way China could cover up the fact that China has already vaccinated many of its people…..and then of course China will share its vaccine miracle with the world and Xi will be the good guy…..a superhero.

    Meanwhile, innocent people are dying all over the world.

    We are at that final moment when Bond (Daniel Craig) is reading Le Chiffre, trying to figure out if he’s bluffing….and then bets it all and wins.

    Do you want to win in the highest stake Poker game ever played Ms. Gabbard? At stake are tens of millions of lives around the world….perhaps even more.

    The Ace of Spades
    March 12, 2020

    I touch the sky....when my knees hit the ground...on the wings of forever.

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