Russia's Gazprombank Denies Reports On Venezuelan PDVSA Opening New Bank Accounts

Russia's Gazprombank Denies Reports on Venezuelan PDVSA Opening New Bank Accounts

MOSCOW (UrduPoint News / Sputnik - 10th February, 2019) Venezuelan state-owned oil company PDVSA has not opened any new accounts at the Russian Gazprombank contrary to media reports, the bank said in a statement on Sunday.

On Saturday, the Reuters news agency reported that PDVSA, which has been slapped with US sanctions, had instructed joint ventures' clients to transfer proceeds from oil sales to new bank accounts at Gazprombank.

"The information by the Reuters agency is not true. As one of the largest oil companies in the world, PDVSA has opened accounts at many large banks, including international ones. As part of its interaction with several Russian companies, which are clients of the bank, several years ago PDVSA accounts were opened in the Gazprombank group.

However, we emphasize that no new accounts have been opened and the bank does not plan to open them," Gazprombank said.

In January, the United States blocked all assets of PDVSA in its jurisdiction and imposed a ban on deals with the company. US Treasury Secretary Steven Mnuchin told reporters that by blocking PDVSA's assets, the United States was taking care of this company in the interests of the people of Venezuela and also protecting its own market.

Your Thoughts and Comments