BREAKING NEWS

Venezuela's PDVSA defends 'perfect' relationship with Russia

By REUTERS

AUGUST 18, 2017 22:41

Venezuela's alliance with Russia is "perfect," the president of state oil company PDVSA said on Friday, blasting what he said was a US-led attempt to sully the growing ties between the two nations.

Reuters last week published a Special Report revealing that Venezuela's unraveling socialist government is increasingly turning to Russia for the cash and credit it needs to survive and offering prized state-owned oil assets in return, sources familiar with the negotiations told Reuters.

Venezuela's opposition lawmakers say Russia is behaving more like a predator than an ally, scooping up assets on the cheap and gaining control of much of the OPEC nation's crude for trading at a time when President Nicolas Maduro is desperate for financing.

PDVSA President Eulogio Del Pino said the United States and its allies were trying to hurt Caracas' relationship with Moscow because they feared losing Latin America to Russia's sphere of influence.

"That's why they're attacking you Russians," said Del Pino in a televised broadcast from the Petrozamora joint venture with Russia's Gazprombank.

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