Oil Cold War is Heating Up in Venezuela. Bank Shots Fired. Maduro Launches Largest Ever Military Drills.

Venezuela owes Russia and China huge amounts of money from numerous, repeated loans to bail out the Venezuelan Socialist government.  Both Russia and China kept throwing more and more money at Venezuela's exceedingly corrupt leaders, to no avail. 

Chavez and Maduro destroyed the once thriving PDVSA, and the entire economy of Venezuela, with the full support of Venezuelan people via popular support of the promises of "FREE SH*T" of Socialist programs.

As I have warned repeatedly before, Russia and China will eventually collect their pound of flesh (plus interest) for all of their cash loans to Venezuela's corrupt leaders. That pound of flesh will eventuallt be taken from Venezuela's oil reserves, infrastucture and assets.

Waiting now for China to further upturn the tables between Russia and U.S. in seizing control of Venezuela's oil.  China is hungry for energy, and will happily take control of a failed state as payment for Venezuela's debts.

Venezuela shifts oil ventures’ accounts to Russian bank – document, sources

(Reuters) - Venezuela's state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia's Gazprombank AO, according to sources and an internal document seen by Reuters on Saturday.

PDVSA's move comes after the United States imposed tough, new financial sanctions on Jan. 28 aimed at blocking Venezuela's President Nicolas Maduro's access to the country's oil revenue. ...

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