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Zero Hedge 08/19/2019 05:00
U.S. sanctions against Venezuela and Iran have had an unplanned side effect: they have increased exports of heavy, sour crude from Russia , Bloomberg , adding that calculations have shown Russian oil companies raked in an additional US$905 million at least from these sales between November and July. The Urals blend is the big winner of the U.S. sanctions , according to Bloomberg’s calculations.
Zero Hedge 08/17/2019 12:45
Even if China on Iran, in the case of Venezuela Trump appears to be gaining the upper hand. Bloomberg reported Friday that China National Petroleum Corp. (parent company of oil giant PetroChina Ltd) — the country's biggest energy company — is for the first time in over a decade backing away from Vezenuelan crude , canceling shipments :. China National Petroleum Corp. has canceled plans to load about 5 million barrels worth of Venezuelan oil onto ships this month in the aftermath of the latest executive order by President Donald Trump, according to people with knowledge of the situation who asked not to be identified discussing proprietary information. Beijing is seeking to reduce its exposure to the risk of Washington's sanctions, even as it.

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