Bit Of A Problem – Gazprombank Confiscates Accounts of Venezuela’s PDVSA

In order to get out from under the American – therefore capitalist, sneaky and imperialist – sanctions placed upon Venezuela’s oil business they decided that they would go and bank at Gazprombank. Surely being under Putin’s wing would protect their money? As it turns out, no.

As in fact I predicted as this all started.

Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, a Gazprombank source told Reuters on Sunday.

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