Venezuela will have the opportunity to
pay off its US$70 million debt with Uruguay with crude oil, according to a
statement from Uruguayan Foreign Minister Rodolfo Nin Novoa on Thursday, June
25.“This pertains, basically, to dairy products and other products, such as
chemicals and textiles,” the foreign minister said. “The government has an
inter-ministerial commission working to find options to settle the debt through
some compensation in our purchases of oil from Venezuela.”Nin Novoa says the
problem stems from “trade competition” with New Zealand, which has
traditionally exported dairy products to Venezuela. More… 
Wednesday, July 1, 2015
Uruguay Permits Broke Venezuela to Repay Debts with Oil
Venezuela will have the opportunity to
pay off its US$70 million debt with Uruguay with crude oil, according to a
statement from Uruguayan Foreign Minister Rodolfo Nin Novoa on Thursday, June
25.“This pertains, basically, to dairy products and other products, such as
chemicals and textiles,” the foreign minister said. “The government has an
inter-ministerial commission working to find options to settle the debt through
some compensation in our purchases of oil from Venezuela.”Nin Novoa says the
problem stems from “trade competition” with New Zealand, which has
traditionally exported dairy products to Venezuela. More… 
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