INSUBCONTINENT EXCLUSIVE:
company PDVSA via third parties, and said it is not in violation of any US sanctions, according to a statement from country's giant oil
refining company on Saturday.Venezuela's President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state
The story was based on sources and documents reviewed by Reuters.One internal PDVSA document indicated shipments of Venezuelan oil to
Reliance in April would be settled via Rosneft
The document showed that PDVSA and Reliance would pay a fee equivalent to around 3 percent of the sale price, split between them.Reliance
said in the statement that reports it was involved in arrangements that lead to cash payments for oil supplies to PDVSA via third parties
"are false and reckless."It said that since sanctions were imposed, Reliance has made any such purchases of Venezuelan oil with the full
knowledge and approval of the United States government
It said that such transactions do not lead to any consequent payment to PDVSA and do not violate United States sanctions or
supply bilaterally between Reliance and the sellers
It is false to suggest that Reliance would be settling such shipments via Rosneft to PDVSA, it added.Get the latest election news, live
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