China’s Sinopec sues Venezuelan oil firm as Beijing’s patience wanes over debt crisis

Posted By on December 7, 2017

One of China’s biggest state-run conglomerates has sued a Venezuelan counterpart in a US court in a dispute over unpaid bills, a sign of Beijing’s growing impatience with its socialist South American ally as it slides into bankruptcy.
In the lawsuit filed on November 27 in a Houston federal court, a US subsidiary of Sinopec sought more than US$23 million in damages from Venezuela’s state-run oil company, PDVSA. Sinopec alleges it never received full payment for 45,000 tonnes…
Source: China News
Link: China’s Sinopec sues Venezuelan oil firm as Beijing’s patience wanes over debt crisis

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