• SENSEX
    NIFTY 50
Commodities

As Venezuelans suffer, Maduro buys foreign oil to subsidise Cuba

Updated : May 17, 2018 08:06 PM IST

Venezuela's state-run oil firm PDVSA has bought nearly $440 million worth of foreign crude and shipped it directly to Cuba on friendly credit terms - and often at a loss, according to internal company documents reviewed by Reuters.
Venezuela made the discounted deliveries, which have not been previously reported, despite its dire need for foreign currency to bolster its collapsing economy and to import food and medicine amid widespread shortages.
As Venezuelans suffer, Maduro buys foreign oil to subsidise Cuba

You May Also Like

Live TV

recommended for you

Advertisement