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Special Report - Vladimir's Venezuela: Leveraging loans to Caracas, Moscow snaps up oil assets

Reuters  |  Caracas/Houston 

By Marianna Parraga and Alexandra UlmerCaracas/Houston (Reuters) - Venezuela's unraveling socialist government is increasingly turning to ally Russia for the cash and credit it needs to survive - and offering prized state-owned oil assets in return, sources familiar with the negotiations told Reuters.As Caracas struggles to contain an economic meltdown and violent street protests, Moscow is using its position as Venezuela's lender of last resort to gain more control over the OPEC nation's crude reserves, the largest in the world.Venezuela's state-owned oil firm, Petroleos de Venezuela ...

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First Published: Fri, August 11 2017. 18:31 IST