Venezuelan banks to receive $300 million in oil revenues

Summary

Four Venezuelan banks will split $300 million of oil revenues from an account in Qatar, allowing them to sell dollars to local companies. This move aims to alleviate tightening supplies of foreign currency as the U.S. continues to impose sanctions on Venezuelan oil. Each bank is expected to receive about $75 million to facilitate transactions under central bank guidelines.

Recent Coverage

• Venezuelan banks will get $300 million of oil money to sell on exchange market, sources say

  BOE Report • Jan 16