How Venezuela lost three oil supertankers to its Chinese partner

Reuters via Yahoo Financial ^ | August 11, 2020 | Luc Cohen and Roslan Khasawneh

[jdsteel]

NEW YORK/SINGAPORE (Reuters) - A shipping joint venture between Venezuela and China has fallen apart in the wake of U.S. sanctions, resulting in the South American nation losing three supertankers at a time when foreign shippers are reluctant to carry its oil, court documents show.

[jdsteel]

Trump's sanctions working against both Venezuela and China.

[PGR88]

But a U.S. glass manufacturer seeking to collect a $500 million arbitral award for Venezuela's 2010 expropriation of two factories is suing in Singapore court to seize that tanker, Reuters reported last week.

I hope they get it. Socialists need to be slapped hard.

[Seruzawa]

[lewislynn]

MORE WINNING!

[jdsteel]

“But a U.S. glass manufacturer seeking to collect a $500 million arbitral award for Venezuela’s 2010 expropriation of two factories is suing in Singapore court to seize that tanker, Reuters reported last week.”

Yes, there was a total of 4 tankers in question. The US glass manufacturer will likely end up with one, China with 3.

[353FMG]

China 3 — Venezuela 0.

[Repeat Offender]

The haves and havenots of communism.......on a global scale.