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REUTERS/Johnny Carvajal Acquire Licensing RightsCARACAS, Sept 7 (Reuters) - Before they were arrested and sentenced to 16 years in prison on conspiracy charges, the six Venezuelan activists marched peacefully to call for better salaries for teachers, according to their families and lawyers. The latest moves by Venezuelan authorities demand a coordinated response from other countries, advocates said. He has long accused Venezuela's opposition of seeking to spread chaos. "But obviously I don't have faith in Venezuelan justice," said Oropeza, the wife of activist Bracho. Reporting by Vivian Sequera; Writing by Julia Symmes Cobb; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Oropeza, Alcides, Johnny Carvajal, Nicolas Maduro's, Yorbelis Oropeza, Fionnuala Ni Aolain, Clement Nyaletsossi Voulue, Juan Pappier, Gonzalo Himiob, Hugo Chavez, Venezuela's, Maduro, Javier Tarazona, Tarazona, Roland Carreno, Joel Garcia, Tarazona's, Himiob, Valentina Ballesta, Franks Cabana, Oscar Perez, Ana Leonor Acosta, Xiomara Andara, John Alvarez, Garcia, Bracho, Vivian Sequera, Julia Symmes Cobb, Daniel Wallis Organizations: REUTERS, Rights, Maduro, Judiciary, United Nations, Human Rights, Foro Penal, Amnesty International, Coalition for Human Rights, Democracy, Thomson Locations: Caracas, Venezuela, Rights CARACAS, U.S, they'll, Foro, Russia, China, Colombia, Brazil, Colombian, Venezuelan

Roszarubezhneft's five joint ventures now must rely on PDVSA-designated intermediaries that take a large share of the revenues for their services, the people said. The joint ventures are owed about $3.2 billion from sales handled by PDVSA, one of the people said. Roszarubezhneft, Russia's oil ministry, PDVSA and Venezuela's oil and foreign affairs ministries did not reply to requests for comment. It also could help PDVSA make progress toward its goal of raising Venezuela's oil output by 40% this year. Oil production at the five joint ventures has dwindled as U.S. sanctions have hampered investment and maintenance work, and deterred many buyers of Venezuelan crude.

Persons: PDVSA's Jose Antonio, Carlos Garcia Rawlins, PDVSA, Rosneft, Nicolas Maduro's, Roszarubezhneft, Alexandra Ulmer, Marianna Parraga, Vivian Sequera, Daniel Flynn Organizations: REUTERS, Chevron, PDVSA, Reuters, Washington, U.S . Treasury, National Security, State Department, Nicolas Maduro's United Socialist Party, Assembly, Thomson Locations: PDVSA's, Anzoategui, Caracas, Moscow, Venezuela, U.S, Russia, Ukraine, Roszarubezhneft, Venezuela's, Rosneft

☆ U.S. to pledge over $171 mln in aid for Venezuela -US official
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, March 17 (Reuters) - The United States plans to pledge over $171 million in funding for Venezuela at a donor conference on Friday in Brussels, a U.S. official told Reuters, as the country's opposition awaits U.S. moves to process frozen Venezuelan government funds. The pledge is expected to come at a European Union-backed conference focused on building solidarity with Venezuelan refugees and migrants. The U.S. official did not provide details on the funding, which builds on a further $376 million in funding Washington pledged last year. Washington backs Venezuela's opposition, recognizing its parallel legislature and decrying what it says is President Nicolas Maduro's dictatorship. Under the administration of former President Donald Trump, the United States intensified its sanctions against the South American country.

☆ Miss Universe judge Emily Austin calls Venezuela's President Nicolás Maduro 'illegitimate' after he alleged the pageant was rigged
▼ + stars: | 2023-01-28 | by ( Gabi Stevenson | ) www.businessinsider.com time to read: +3 min

A Miss Universe judge responded to Venezuelan President Nicolás Maduro's comments on the pageant. Miss Universe judge Emily Austin said in an interview with Fox News published Friday that Maduro's criticism was hypocritical. Miss Venezuela, Miss USA, and Miss Dominican Republic compete in the 71st annual Miss Universe. Jason Kempin / Staff / Getty ImagesThe Miss Universe Organization chief executive Amy Emmerich also defended Gabriel's wins in both the Miss USA and Miss Universe pageants in a statement to the Los Angeles Times on January 18. "People saying that its 'suspect' that JKN Global Group owns both Miss Universe and Miss USA aren't familiar with the history of the organizations.

☆ Venezuela inflation accelerating, heightening risk of return to hyperinflation, economists say
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

CARACAS, Jan 5 (Reuters) - Venezuelan consumer prices rose at a sharp 37.2% clip in December from November, heightening the risk of a return to hyperinflation, according to estimates by the Venezuelan Finance Observatory, a non-governmental group of economists. The private inflation estimate is key since Venezuela's central bank, which in October said annual inflation hit 155%, one of the highest rates globally, has not released consumer price data since then. For nine consecutive months, consumer price inflation was in the single digits thanks to strict policies implemented by President Nicolas Maduro's government, anchoring the exchange rate, limiting public spending and increasing taxes. After the policies were rolled out, authorities said Venezuela had emerged from a four-year streak of hyperinflation. The central bank did not respond to a Reuters request for comment.

But a plan to move heavy oil quickly from inventories at the Petroboscan joint venture with state-run company PDVSA is facing delays because of lack of dredging at Maracaibo Lake's navigation channel, the people said. Petroboscan has instructed vessels since to limit their draft after loading at the Bajo Grande oil terminal. That means about 250,000 barrels of Boscan heavy crude can move at a time through the channel linking Bajo Grande to the Caribbean Sea. In a sign that Chevron expects to expand operations quickly, the oil producer has begun advertising for Venezuelan contract administrators and cargo schedulers. The company wants to assemble a trading team to market oil from Venezuela and expand its role in the four projects.

☆ Venezuela opposition vote to remove Guaido's interim government
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

Acting as congress chief and interim president following Nicolas Maduro's disputed re-election as president in May 2018, Guaido in 2019 appointed the board of Citgo, a subsidiary of state oil firm PDVSA. While mostly powerless at home where Maduro's government exercises control over nearly all institutions, including security forces, Guaido's interim government has supervised the foreign assets and runs many embassies. If approved next week, opposition lawmakers will then choose five representatives for the board of directors that will head assets held abroad, and Guaido's interim presidency, along with his government, will be removed. Guaido has been the face of Venezuela's opposition abroad since he declared himself interim president in 2019. Talks between the opposition and Maduro's government hosted by Mexico ended earlier this month with no further negotiations scheduled.

☆ Venezuela opposition demand date to resume dialogue with Maduro in Mexico
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +1 min

CARACAS, Dec 4 (Reuters) - Venezuela's opposition asked President Nicolas Maduro's government to set a date to resume political talks in Mexico that could alleviate the county's long-running political and economic crises. Government and opposition delegates met in Mexico City on Nov. 26 after more than a year of hiatus, and signed a "social agreement", but did not announce a date to meet again. The opposition later said they would meet with the ruling party in December. The head of the opposition delegation, Gerardo Blyde, said this week that talks would enter a challenging phase including political issues and human rights. "We demand that Nicolas Maduro not continue delaying the commitment assumed in Mexico and proceed immediately to set the date, within the month of December, to continue the negotiation with the political and freedom agenda as agreed," the opposition said.

☆ Venezuela's anti-inflation efforts dealt blow as currency tumbles
▼ + stars: | 2022-11-24 | by ( Cynthia Kim | Jihoon Lee | ) www.reuters.com time to read: +2 min

For months, President Nicolas Maduro's administration has sought to fight inflation by anchoring the bolivar's exchange rate. It has increased the supply of foreign currency cash in local banks and limited the expansion of credit and public spending. The local currency has depreciated 17% since October, and 55% so far this year. Both economists said the government may be fine with letting the exchange rate slide a little more, if it allows them to spend again. The central bank did not immediately respond to a request for comment.

☆ Venezuela's monthly inflation slows to 6.2% in October
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

CARACAS, Nov 4 (Reuters) - Venezuela's monthly inflation in October hit 6.2%, a sharp slowdown from September when prices rose 28.7%, according to data released on Friday by the country's central bank. President Nicolas Maduro's government has tapped the brakes on inflation with orthodox economic policies aimed at exchange-rate stabilization, reduced public spending and tax hikes. Year-on-year inflation stood at 155.79%, according to Reuters calculations based on central bank figures, the highest in the Latin American region. High prices coupled with a de facto dollarization in some sectors have severely widened wage gaps between public and private sector workers. The minimum wage is equivalent to about $15 per month and has not been revised since last March.

Migrants arriving at the U.S.-Mexico border are prompting U.S. President Joe Biden's administration to call for unfreezing Venezuelan funds held in foreign banks that would provide needed food and medicine, the sources told Reuters. It also has some in Venezuela's opposition parties worried about the political impact of releasing funds that Maduro could claim credit for ahead of a potential 2024 presidential election. The United Nations drafted a first proposal to oversee the fund in mid-October, the sources told Reuters. Opposition envoys discussed the aid package with U.S. officials during their meetings last week in Washington, four of the sources said. For the United Nations, it could become one of the largest funds ever handled, even though the total amount that could be legally released is not clear.

But most opposition representatives visiting Washington this week told U.S. officials they would not continue backing him or anyone else as their leader for another year of interim government. Venezuelan opposition representatives who attended the meetings in Washington and a spokesperson for Citgo did not immediately provide a comment. The U.S. State Department said it recognized Guaido and coordinates with his administration "on the steps needed to move forward on a negotiated solution that leads to the restoration of democracy to Venezuela." Five of six opposition-party representatives told State Department officials on Tuesday they would not support Guaido or any other interim leader, the four sources said. read moreUnder U.S. President Donald Trump's administration, the United States recognized Guaido as rightful leader in January 2019, and dozens of other countries followed suit.

☆ Venezuela objects to U.S. court's calendar to sell Citgo parent's shares
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

CARACAS, Oct 12 (Reuters) - The Venezuelan government on Wednesday objected to what it called an "arbitrary decision" by a U.S. court that approved a calendar for auctioning shares in the parent of Houston-based refiner Citgo Petroleum, which is owned by Venezuela. Venezuela "categorically rejects this reckless decision," the government said in a statement on Wednesday. "All objections... are hereby overruled and denied on the merits with prejudice," Judge Stark ruled on the objections to the calendar, including Venezuela's. Venezuela said it will take action before international bodies and mechanisms to defend the asset, without providing details. Register now for FREE unlimited access to Reuters.com RegisterReporting by Deisy Buitrago; Written by Marianna Parraga; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Lack of credit sends Venezuelan businesses seeking loans abroad
▼ + stars: | 2022-09-28 | by ( Mayela Armas | ) www.reuters.com time to read: +3 min

CARACAS, Sept 28 (Reuters) - Venezuelan business owners struggling to get access to credit amid their country's continued economic crisis are seeking loans through foreign banks, business people and finance industry sources told Reuters. Large companies in need of financing have begun seeking loans from foreign banks with local partners or connections, private sector and finance sources said. Several companies seeking credit are from the agricultural sector and need the funds to purchase wheat, fertilizers and other goods from abroad, three sources said. U.S. sanctions imposed in 2019 are focused on limiting Maduro's access to financing and do not prohibit private Venezuelan companies from operating abroad. "The government transfers the biggest burden of its adjustment plan to the private sector by restricting credit for companies and consumer credit, which partly affects households," said economist Daniel Cadenas.

☆ Fugitive who bribed Navy officials with cigars, suckling pigs, Lady Gaga tickets, and a 'rotating carousel of prostitutes' may be used as leverage for Venezuela's new government to win recognition fro
▼ + stars: | 2022-09-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Venezuelan President Maduro may use Leonard as a bargaining chip for US recognition, AP reported. With his capture, experts are speculating whether disputed Venezuelan President Maduro will use the prisoner as a bargaining chip to win recognition from US President Joe Biden's administration, AP reported. He also overcharged the Navy by over $35 million for services, NBC reported,With his arrest, experts told AP Francis' conditional return may be used as leverage to prompt official recognition from the Biden administration. A law enforcement official in Venezuela told AP the extradition is seen as unlikely because the Biden administration recognizes opposition leader Juan Guaidó — not Maduro — as the country's legitimate ruler. Guaidó declared himself interim president of Venezuela in January 2019 amid nationwide protests against authoritarian president Nicolas Maduro.

☆ Navy bribery case fugitive 'Fat Leonard' tried to get to Russia, officials say
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: +4 min

In a photo released Sept. 21, 2022, Interpol Venezuela said it captured Malaysian fugitive Francis Leonard Glenn, known as Fat Leonard. Interpol Venezuela | AFP | Getty ImagesSince escaping two weeks ago, officials say the fugitive Malaysian defense contractor nicknamed "Fat Leonard" — who orchestrated one of the U.S. Navy's largest bribery scandals — zipped between countries to find a place where he could become virtually untouchable for American authorities. Francis was planning to travel to Russia, according to Interpol Venezuela Director General Carlos Garate Rondon, who disclosed the arrest in a statement posted Wednesday on Instagram. Among those he befriended was a Russian diplomat, Francis told podcaster Tom Wright, who created a nine-part series on the case. The official said Francis later told authorities his final destination was Russia.

☆ Fugitive 'Fat Leonard' was captured at a Venezuela airport trying to flee to Russia after escaping house arrest
▼ + stars: | 2022-09-22 | by ( Jake Epstein | Azmi Haroun | ) www.businessinsider.com time to read: +4 min

Fugitive 'Fat Leonard,' who pleaded guilty to involvement in a US Navy bribery scandal, was caught in Venezuela. Interpol Venezuela said it captured Leonard Glenn Francis trying to flee the country for Russia. Leonard recently cut his GPS ankle bracelet and fled house arrest in San Diego, where he was awaiting sentencing. Francis, a former military contractor who is also known as "Fat Leonard," was captured at an airport while trying to flee the country, Interpol Venezuela said in a Wednesday statement shared to Instagram. —USMS San Diego (@USMSSanDiego) September 6, 2022The US Marshals Service confirmed Francis' capture in Venezuela to the Associated Press.

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