US Sanctions Squeezes Russia’s 3rd Biggest Bank into Freezing Venezuela Oil Firm’s Accounts

Russia’s third-biggest bank by assets Gazprombank has elected to freeze the bank accounts belonging to Venezuelan state oil firm Petróleos de Venezuela, S.A. (PDVSA), Reuters reports. Citing sources, the report indicated that the state-owned lender did so to lower its risks of coming under U.S. sanctions. Alongside China, Iran, Turkey and other countries, Russia is […]

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