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  Economics 
11 of April, 12:53

Russia is ready to take over a us oil company
Russia is ready to take over a us oil company. Russian state oil company "Rosneft" demands a share in the American energy company "Citgo" located in Houston, Texas.

This is not a direct capture. It depends on the ability of the state oil company of Venezuela to repay the loan. The Venezuelan company owns "Citgo", which was used as collateral on the loan. Republican and democratic lawmakers very concerned. In a hotly worded letters sent to the administration trump in recent days, members of Congress and senators warned that it can become a big problem for US national security if Russia gets hold of "Citgo".

All this happens because of the tension between the U.S. and Russia in connection with the conflict in Syria, cybercrime and Russia's intervention in the American elections. "Rosneft" also currently is in the US sanctions list for "violating international law and the conflict in Ukraine."

This whole situation stems from the fact that the last time Venezuela desperately needs money. The state oil company of Venezuela, Petroleos de Venezuela (PDVSA) owns Citgo since the 1980-ies. In exchange for a loan from Rosneft in December, the oil company of Venezuela put up a large share (49.9 percent) in the "Citgo" as collateral.

If PDVSA will not be able to pay their bills, "Rosneft" will almost certainly gain control of "Citgo". All that is required of Rosneft is to buy a few more bonds PDVSA to overcome the 50% threshold of ownership.

Although Venezuela or PDVSA will not be immediate exhaustion of funds, there is every reason to believe that they will be available by the end of 2017. This may mean that PDVSA will not be able to pay the Russian loan.

sections: Economics, Accidents

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