Commodities & Energy

Reuters first to report Venezuela offers suppliers payment in Chinese yuan

Reuters first to report Venezuela offers suppliers payment in Chinese yuan

Reuters broke the news that Venezuela’s government and its oil company PDVSA have offered to pay suppliers and contractors into accounts in China using the yuan currency. The move made in recent months is the latest example of how Caracas has sought new ways of making international payments since sweeping sanctions by Washington, intended to force out socialist President Nicolas Maduro, cut off the country’s access to the U.S. financial system.