• Home
  • NEWS
  • SPORTS
  • ENTERTAINMENT
    • POWER HOUSE
    • MUSIC / VIDEOS
    • MOVIES / TV
  • LIVE
  • Contact Us
Facebook Twitter Instagram
Trending
  • Rihanna, A$AP Rocky attend ‘Iconic’ Beenie Man show in Barbados
  • Beenie Man injures ankle in bike crash — source
  • Will Smith Says He ‘Understands’ If Moviegoers Aren’t Ready to Watch New Film After Oscars Slap
  • Will Smith says bottled rage led him to slap Chris Rock at the Oscars
  • Drake Gifts DJ Khaled with Toilets
  • Soca Invasion Brings Caribbean Culture to Ghana in January
  • SVG days away from exporting first legal shipment of medicinal cannabis
  • Protect yourself and use condom properly- AIDS Secretariat
Magic 103.7
  • Home
  • NEWS
  • SPORTS
  • ENTERTAINMENT
    • POWER HOUSE
    • MUSIC / VIDEOS
    • MOVIES / TV
  • LIVE
  • Contact Us
Magic 103.7
Home»News»St Vincent feels squeeze of US sanction against Venezuela
News

St Vincent feels squeeze of US sanction against Venezuela

By Magic 103.7June 15, 2018No Comments2 Mins Read
Facebook Twitter WhatsApp Reddit Pinterest LinkedIn Telegram Tumblr Email

Prime Minister Ralph Gonsalves says he has received no indication that the state owned oil and natural gas company, Petróleos de Venezuela (PDVSA) in Venezuela, has suspended fuel shipments to St Vincent and the Grenadines under the PetroCaribe agreement.

Gonsalves however said the country is being affected by the sanctions that the United States has imposed on the Nicolas Maduro administration in Caracas.

“We have received no such communication and they would communicate to us is if it were true,” Gonsalves told a press conference in Kingstown on Thursday of allegations that the PetroCaribe oil shipments have ceased.

He further said that he contacted the Venezuelan chargé d’affaires in Kingstown, who said he had received no such information.

“This is an era of fake news and all sorts of things,” Gonsalves said.

A report circulated via social media claimed that PDVSA was suspending oil shipments under PetroCaribe to eight countries, namely Antigua and Barbuda, Belize, Dominica, El Salvador, Haiti, Nicaragua, St Vincent and the Grenadines, and St Kitts Nevis.

The Gaston Browne government in Antigua and Barbuda also dismissed the report as “fake news”.

During the press conference, Gonsalves admitted the US sanctions began affecting the country as early as last year.

“The impact is for Venezuela, but it has affected us,” he said, adding that so far this year, St Vincent has received two shipments of fuel under the PetroCaribe agreement.

He, however, said that the portion of the cost of the fuel that SVG is allowed to keep as a long-term, low-interest loan, was just EC$2.4 million.

“Last year, the sanctions started to bite. We had long-term financing of just $7 million,” he said, adding that this compared to more than $35 million in 2014.

“That’s to give you the way in which the sanctions have affected,” Gonsalves said.

Source: Jamaica Observer

Petróleos de Venezuela (PDVSA) Ralph Gonsalves Venezuela
Share. Facebook Twitter WhatsApp Reddit Pinterest LinkedIn Telegram Tumblr Email
Previous ArticleFrench Montana Becomes a U.S. Citizen
Next Article Apple Signs Oprah for a Multi-Year Deal

Related Posts

Digicel Signs 15-year ICT Agreement with three Caribbean Countries

October 4, 2018

American Airlines to begin service to St Vincent and the Grenadines

May 3, 2018

St Vincent PM disagrees with CARICOM Chairman on LIAT

July 5, 2017

Comments are closed.

  • Facebook
  • Twitter
  • Instagram
  • YouTube
Listen To Magic 103.7 Live

Trending

Rihanna, A$AP Rocky attend ‘Iconic’ Beenie Man show in Barbados

November 29, 2022

Beenie Man injures ankle in bike crash — source

November 29, 2022

Will Smith Says He ‘Understands’ If Moviegoers Aren’t Ready to Watch New Film After Oscars Slap

November 29, 2022

Will Smith says bottled rage led him to slap Chris Rock at the Oscars

November 29, 2022

Drake Gifts DJ Khaled with Toilets

November 29, 2022
Magic 103.7 - Today's Music Yesterday's Hits
Today’s Music Yesterday’s Hits
Follow Us
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Popular This Week

Rihanna, A$AP Rocky attend ‘Iconic’ Beenie Man show in Barbados

November 29, 2022

Beenie Man injures ankle in bike crash — source

November 29, 2022
Copyright © Magic 103.7 | Designed by Delano Maloney Designs
  • Privacy Policy
  • Contact Us
  • Subscribe

Type above and press Enter to search. Press Esc to cancel.