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Chinese Firm Suspends Venezuelan Oil Loading Over US Sanction Fears
China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter told Reuters on Monday.
The Trump administration in early August froze all Venezuelan government assets in the United States and U.S. officials ratcheted up threats against companies that do business with Venezuela.
“Trump’s executive order gave a directive for the follow-up sanction measures that shall be announced by the U.S. Treasury… CNPC is worried that the company is likely to be hit by the secondary sanctions,” said one source. A CNPC spokesman declined comment. A second person, an executive with a key marketer of Venezuelan oil in China, said his company had been notified of the suspension. “We were told that China oil will not load any oil in August.
We don’t know what will happen after.”
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
