Venezuela

Venezuela rejects U.S. comments on its humanitarian situation - Xinhua

CARACAS, Dec. 16 (Xinhua) -- The Venezuelan government on Saturday rejected what the U.S. State Department said on the South American country's need …

South America

Venezuela Gives Russia's Rosneft Gas Field Concessions: Rosneft

MOSCOW (Reuters) - Venezuela has awarded licenses to a unit of Russian oil major Rosneft<p>to develop two offshore gas fields, Rosneft said in a …

Oil

Venezuela, Opposition conduct fresh talks

Venezuela’s government and Opposition concluded a new round of talks on Friday in an effort to bridge deep and entrenched differences to find a way …

South America

Kuczynski clings on but Congress gives green light to impeachment vote

Peru's Congress, where the opposition holds enough seats to win a vote, has taken the first step towards impeaching the country's president, filing a motion for a December 21 vote.<p>Centre-right President and former Wall Street banker Pedro Pablo Kuczynski is refusing to resign in the face of …

News

Poor Venezuelan neighbors find solution to cash crunch

CARACAS, Venezuela (AP) — Residents of one neighborhood in cash-strapped Venezuela say they’ve found a solution to a lack of paper money by creating …

South America

Adoption of Bitcoin Picking Up Speed in Venezuela, Called “Lifesaving” Currency

Bitcoin is now becoming a constant part of many Venezuelans’ everyday life.<p>Whether they’re buying food, plane tickets, or even paying employees, …

South America

Venezuela: Nepotism, Cocaine, and Incompetence at the Top

All the first lady's nephews wanted to do was raise a few million dollars in a cocaine deal. Many members of the Venezuelan regime's elite were doing …

South America

Oil Has Cursed Venezuela

The political prisoner Leopoldo López wrote from his cell that something is terribly wrong with his country—but it can be fixed.<p>Editor’s Note: What follows is an adapted excerpt from a book co-written by Leopoldo López, a Venezuelan opposition leader, and Gustavo Baquero. López is one of the …

South America

Venezuelan Government and Opposition Fail to Reach a Deal; Talks to Resume in January

<b>Caracas:</b> Venezuela‘s government and opposition leaders will hold a new round of talks in January after failing on Friday to reach an agreement to …

South America

Talks between Venezuela, opposition set to resume in January

Another round of talks between the Venezuelan government and opposition leaders has ended without an agreement but the dialogue is slated to resume …

South America

Venezuela default more likely on sovereign bonds than PDVSA's: bondholders

NEW YORK (Reuters) - Venezuela is more likely to default on its sovereign bonds than on those of state-run oil company PDVSA given how essential the latter's cash flow is to the country's fortunes, bondholders and legal experts have said.<p>Both asset classes cratered last month after President …

Business

Venezuela's National Cryptocurrency Advances But Experts Warn of Corruption

Featured<p><b>Venezuela’s president Nicolas Maduro has advanced the creation of the country’s national cryptocurrency, the Petro. He believes it will take</b> …

South America

Paralysis at PDVSA: Venezuela's oil purge cripples company

CARACAS/HOUSTON (Reuters) - Decisions at some joint ventures with foreign firms are delayed. A growing number of oil tankers sit idle because no one authorizes payments. Employees struggle to get approval for routine expenses, from taxis to training.<p>An alleged crackdown on graft in Venezuela, seen …

South America

A homemade Christmas dish is the latest casualty of Venezuela’s economic crisis

Maritza Díaz, a 72-year-old homemaker, gapes at the prices of the products on display at La Limpia market in Maracaibo, Venezuela’s second-largest …

South America

Venezuela’s Fiat Currency is Declining Rapidly and Bitcoin is Taking Over

Advertisement<p>Years of hyperinflation of the Venezuelan bolivar has made the currency nearly unusable. Over the past 12 months, bitcoin has taken over …

Cryptocurrency

Venezuelan community group launches currency to combat cash shortage

CARACAS (Reuters) - A socialist collective in one of Caracas' emblematic hilltop slums has launched its own currency, the panal, to try to overcome …

Forex

Exiled Prosecutor Says Maduro’s War on Corruption Is a Farce

Venezuela’s former chief prosecutor says the government’s anti-corruption crackdown is a facade to cover a power struggle among the ruling party …

South America

It’s hard to believe, but Venezuela’s economic crisis will get worse in 2018

I thought that Venezuela’s economic crisis was so acute — with a 12 percent economic contraction in 2017, a 700 percent inflation rate and widespread …

Opinion

Struggling Venezuela Launches Tender To Buy U.S. Crude

Struggling Venezuelan state oil company PDVSA has launched tenders to purchase a total 4.2 million barrels of U.S. and Russian crude oil, which …

Oil

Venezuelan state oil company announces payments on certain bonds

CARACAS (AFP) -<p>Struggling Venezuelan state oil company PDVSA says it has begun paying $539 million in interest payments on four bonds hours before a grace period expires.<p>The company, source of 96 percent of the country's foreign revenues, was declared in partial default by global rating agencies …

South America

‘Petro’-bolivar: Venezuela to launch oil-backed cryptocurrency

Venezuela is launching a cryptocurrency backed by oil, gas, gold and diamonds. President of Venezuela Nicolas Maduro announced on Sunday the launch of the “petro” backed by oil reserves to try and alleviate an economic crisis and food shortages.<p>Venezuela is launching a cryptocurrency backed by oil, …

South America

Venezuelan 1st lady's 2 nephews get 18 years in prison

NEW YORK (AP) — A New York judge has sentenced two nephews of Venezuela's first lady to 18 years in prison for their conviction on drug conspiracy charges.<p>Judge Paul Crotty announced the sentences Thursday in Manhattan federal court after the men apologized for their crimes.<p>A jury convicted Efrain …

Crime

A Second Year Of Shortages In Turkmenistan

For the second straight year, people in Turkmenistan are reporting shortages of basic goods such as flour and eggs. Turkmenistan has been suffering …

South America

Venezuela first lady's nephews jailed for drugs

<b>Two nephews of Venezuela's first lady have been sentenced to 18 years in prison in the US after being convicted of trafficking drugs.</b><p>Franqui Francisco Flores de Freitas and Efrain Antonio Campo Flores were accused of conspiring to smuggle 1,700 pounds (800kg) of cocaine into the United States.<p>The …

South America

Simón Bolívar: Liberator or Tyrannical Demagogue?

By: José Niño <br>Latin American revolutionary Simón Bolívar is commonly referred to as the George Washington of Latin America by numerous scholars and …

Conservative View

Flood of Venezuelans are fleeing depressed country. Here's where they're seeking refuge

LIMA, Peru — It is 8 a.m. and the line of Venezuelan refugees outside the Interpol office already stretches to the end of the block.<p>Most have just arrived in Lima with not much more than the clothes on their back and are here applying for a certificate to show they have no criminal record, a …

South America

'Totally devastated," says mom of Utah man Josh Holt, ordered to stand trial in Venezuela

CARACAS, Venezuela — The hopes of a Utah family were dashed Tuesday after a Venezuelan judge ruled that a jailed American man must stand trial on weapons charges — a day after his mother released an audio recording of her son saying he was suffering without medical care.<p>The judge's ruling came …

World News

Lender CAF extends $400 million credit line to Venezuela, draws opposition fury

CARACAS (Reuters) - Latin American development bank CAF said it had approved a $400million credit line to cash-strapped Venezuela’s central bank, sparking the fury of the opposition which on Wednesday accused the lender of financing a dictatorship.<p>Caracas-based CAF said in a statement on its …

South America

Venezuela's PDVSA seeks up to 4.2 mln bbl of U.S., Russian crudes

HOUSTON (Reuters) - Venezuela’s state-run oil company PDVSA has launched tenders to buy up to 3 million barrels of U.S. light sweet crude and 1.2 million barrels of Russia’s Urals crude for January delivery, according to documents seen by Reuters on Wednesday.<p>**PDVSA is requesting five …

South America

Cuba takes over Venezuela stake in refinery joint venture: state media

HAVANA/HOUSTON (Reuters) - Venezuela has pulled out of a partnership with Cuba in its Cienfuegos oil refinery and the Caribbean island has taken full ownership of the plant, Cuban state media said on Thursday.<p>Venezuela is grappling with an economic crisis that already forced it to slash cheap oil …

Oil