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Venezuela bondholders inch toward showdown

Monday, April 3, 2017

Cash-strapped Venezuela negotiating Russian help for PDVSA debt payments

Venezuela is negotiating financial help from Russian oil major Rosneft to complete nearly $3 billion in PDVSA debt payments coming due to bondholders next month, two market sources and a government source familiar with the talks told Reuters on Friday. Venezuela's leftist government has grown increasingly close to Russia's Vladimir Putin and Rosneft has become an important financier and oil player in the OPEC nation with the world's biggest crude reserves. More…

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