Thursday, April 13, 2017

Congress Panics As US Oil Assets Could Fall Into Russian Hands If Venezuela Defaults

As we noted last night, Venezuela's state-owned oil company PDVSA made principal and interest payments of $2.2 billion today, avoiding default yet again despite what Vice President Tareck El Aissami called a "ruthless economic war" being waged against the Maduro government.

That's the good news, the bad news is that PDVSA has $62 billion more in principal and interest due over the next few years ....