Canada to host Venezuela summit to support anti-Maduro forces: Freeland

Venezuela's Guaido expresses concern over Greek position | News

Venezuela's Guaido expresses concern over Greek position | News

Guaido said in an interview with CNN in Spanish on Monday that Venezuela's opposition-controlled congress had approved a measure asking foreign nations to ensure the country's assets aren't "looted" by Maduro.

Martinez said, "As Venezuelan soldiers, we are making a request to the U.S.to support us, in logistical terms, with communication, with weapons, so we can realize Venezuelan freedom".

The move could block about 500,000 barrels a day of US imports, estimated Brian Scheid from S&P Global Platts.

International Brent crude oil futures rose over 2 percent on Tuesday in reaction. The Latin American nation shipped an average of 584,000 barrels a day to American refiners in the past four weeks, about 8 percent of total US crude imports.

Mr Guaido, who has not yet appointed a cabinet, faces the intricate legal challenge of nominating new leadership for PDVSA and its subsidiaries, including Citgo Petroleum, who would manage the companies during a transition. Mexico and Iraq will likely be the primary beneficiaries due to their extensive customer network in the Gulf Coast, he says, while Canada has a limited footprint in the region.

"Over the past three or four years, as Venezuelan production has plummeted, we've seen a tightening of the heavy oil market and we think Canadians have benefited in that the price difference between light and heavy globally has tightened", he said.

Barnier warns time-limited backstop would be 'useless'
It is not a solicitation to make any exchange in commodities, securities or other financial instruments. There was no question that leaving with a Brexit deal was in Britain's best interests, she said.

"If you do not find a place for that crude quickly, the room for maneuver will shrink and imports will be affected", said Asdrubal Oliveros, director of Caracas-based consultancy Ecoanalitica.

According to analysts briefed by Platts, whatever the outcome of Venezuela's political impasse, Rosneft won't be cut off from Venezuelan oil assets, as oil is pretty much the only hard-currency revenue the country can get. Still, it remains one of the three biggest suppliers of crude to the US, behind Canada and Saudi Arabia. That would force USA refiners to bid early for heavy crude at premiums because of increasing logistics costs, analysts with ClearView Energy Partners said in a note on Monday. A further rise could factor into already slowing global economic growth.

"The US has. publicly taken a course toward illegal regime change", he said Tuesday.

The proceeds of the purchase of Venezuelan oil would now be withheld from Maduro's government, Treasury Secretary Steven Mnuchin said.

Since the 1920s, when American prospectors first discovered vast amounts of oil on the shore of Venezuela's Lake Maracaibo, the United States has been the main destination of the country's sole significant export.

In separate but nearly simultaneous comments, President Vladimir Putin's spokesman declined to comment when asked whether Russian Federation would send military aid if the US military gets involved in the crisis in Venezuela.

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