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Financial News: VENEZUELA: Country And Russia Seek Alternatives To U.S.

VENEZUELA: Country And Russia Seek Alternatives To U.S. Sanctions

09/14/2017 - 19:29:00 (RTTNews)

(RTTNews) - Venezuela and Russia are expected to establish a strategic alliance to create alternatives to the economic sanctions imposed by the United States against the South American country.

Both Venezuela and Russia intend to start trading crude oil in currencies other than the U.S. dollar, according to the Venezuelan vice-president, Tareck El Aissami.

He added that a delegation of directors of the Russian state-owned oil company Rosneft would arrive in Venezuela to finish the partnership's details.

In mid-August, the U.S. President Donald Trump signed a decree imposing a sanctions package on Venezuela that bans negotiations on new government-issued debt and assets from state-owned oil company PDVSA.

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