Regarding the sale of Bonds at Sitme .well if things get ugly at SITME the can just stop selling tho

Observations focused military discounted airline tickets on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil s excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
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The sanctions announced today by the US Government against Venezuela s oil company PDVSA and lesser known arms manufacturers CAVIM, represent a clear message of warning to the Venezuelan Government to watch the line they step over with Iran and other terrorist Nations.
The US had already sent a warning over PDVSA s shipments on two tankers of a catalytic product used in the production of gasoline earlier this year.  However, the President of PDVSA said in February that it had not made such shipment. It is less clear in what way CAVIM violated the US sanctions against Iran, we just note that the President off CAVIM happens to be a Director of PDVSAand in my interpretation, including CAVIM might have an implied message of warning in itself.
Moreover, PDVSA s affiliates (read CITGO, based in the US) will not be subject to the sanctions. Of the sanctions in itself only the last one may be of consequence as it will likely get tougher to obtain export licenses to Venezuela of sophisticated technology unless the exporter/importer can show that PDVSA will not have access to it.
The sanctions imposed are really mild. Under US law, the Secretary of State had to impose at least three sanctions from the nine possible ones ( see Setty s post ). People who took part in the conference call and others I talked to today, indicate the three were chosen such that would not block oil trading between the two countries. The ban on import licenses applies military discounted airline tickets to future military discounted airline tickets ones, not past ones, it may be bad for PDVSA long term, but basically irrelevant at this time. PDVSA does not have any contracts with the US Government and Citgo is exempt from the sanctions. Venezuela has had no access to Ex-Im bank financing for a few years.
What is clear from the sanctions and various conversations with people in DC, is that this mild application of the sanctions is a warning and that were PDVSA to once again collaborate with Iran in violation of the sanctions, the US Government would take a much tougher stance.
So far Venezuela s response has been mixed. There was the usual rhetoric, imperialistc , Illegal , no fear from more , but no threat to stop shipping oil to the US (so much for the revolution that needs capitalism to function). PDVSA officials told Reuters that this was done by the Obama administration to appease Senate critics.
Perhaps the main impact of the sanctions will be on the Government military discounted airline tickets s finances. Both PDVSA and the Government have been issuing bonds mostly to create military discounted airline tickets the supply for the Central Bank s SITME system, the only legal mechanism (other than the Central Bank) to move money in and out of the country. In January, for example, PDVSA reopened the 2017, 8.5% coupon military discounted airline tickets bond to pay the Central Bank US$ 1.9 billion (Or was it US$ 2 billion? Or was it US$ 2.4 billion?) which the bank has been selling via SITME. Similarly, in February it sold US$ 3 billion of a PDVSA issue, of which US$ 1 billion was kept by the Government.
The problem is that these bonds were sold at Bs. 4.3 per US$, which means that if they are sold through the SITME, the price of the bond needs to be above 81% for these institutions to break even. With the news today, PDVSA s and Venezuela s bond fell and the PDVSA 2022 closed below 80%, increasing possible losses if they began selling it in the SITME system. military discounted airline tickets We suspect these bonds will be under pressure for a while with the news.
The next few days are important, after the initial rhetoric settles down, Chavez is likely to forget the topic. All he wants and needs is to be reelected, Iran may be an ally, but is not worth the sacrifice.
True the sanctions won t hurt PDVSA in the short term, but if you are a multinational oil co, would you put a dime in a country thats headed for complete military discounted airline tickets economic embargo? how do you explain to you stockholders you put money into a country thats about to be declared a terrorist state. Chavez military discounted airline tickets should military discounted airline tickets remember if you sleep with dogs you get fleas.
And the threat of further action is decidedly *not* credible in this instance because there isn t the slightest chance on earth that Barack Obama will endanger his re-election by sending gas prices military discounted airline tickets higher still to teach Chávez a lesson.
We need to keep our wits about us. Under no imaginable circumstances can hemming in Chávez be a higher priority to Obama than his re-election. The sanctions are hot air, as is the Venezuelan response.
We need to keep our wits about us. Under no imaginable circumstances can hemming in Chávez be a higher priority to Obama than his re-election. The sanctions are hot air, as is the Venezuelan response.
The laws on sanction military discounted airline tickets busting are automatic, military discounted airline tickets no help needed from Obama. US citizens have gone to jail for helping Iran, March Rich had to skip to Switzerland for 20 years, till he bought a $20 Million pardon from Bill Clinton.
Why should Iran be a terrorist nation? military discounted airline tickets they never agressed anybody, on the contrary the US is agressing since 1959 , one country after an other, Why is the US using double standards military discounted airline tickets between Israel and Iran? I boycott US products since several years just because of there agressive way of behaviour!
Sanctions would be cutting in his (oblablablama s) own flesh, for now the us is is cutting so much tree s for printing military discounted airline tickets more and more dollar bills that very soon there will be no more tree s in the US, so he could use support from Venezuela. perhaps Chavez should offer more free oil to the US because the situation there is so deteriorating that its is or it will become very soon an underdeveloped nation, the roman empire from the 20th and 21st century.
Although these sanctions do not produce any immediate threat to Venezuela I believe it cause some noise in the financial markets above which PDVSA needs for the extra heavy projects at Orinoco Faja (Junin 2, 4, 6, Carabobo 1 y 3, etc etc I forgot to mention revamping of Pto La Cruz and El Palito refineries) .just one project alone, say Carabobo 3, may be around USD 20 billions to come to fruition (early production + upgrader plant) . There is no way in heaven that PDVSA can carry out any of these projects without international financing.
My question is how much noise do these sanctions produce? Is it enough in order to give a shout of caution to the international sources of financeaffect, after all PDVSA´s thirst for LECHUGAS is infinite???? .I don´t know but might be worthwhile analysing military discounted airline tickets that.
Regarding the sale of Bonds at Sitme .well if things get ugly at SITME the can just stop selling those bonds and give a temporarily boost to the parallel rate!! I dont see any inconvenient in doing this,,,,after all, no body cares and many people with accounts abroad and guisos in Venezuela get richer with any hike in the parallel rate Accordingly, more billullos!!!!
Chavez should offer more free oil to the US because the situation there is so deteriorating that its is or it will become very soon an underdeveloped military discounted airline tickets nation, the roman empire from the 20th and 21st century
That s why you have long lines outside the US embassy, people military discounted airline tickets vote with their feet, one million Venezuelans have voted against Chavez, when the country collapses you will have a stamped, PDVSA is the golden goose and Chavez is going to cook it.
Venezuela is doomed military discounted airline tickets and thats a real shame, they missed a perfect golden opportunity during the last global crisis. Almost a trillion $ that they can t account for, Nevertheless, it is a great country, 12 years of bad admin and still going pitty
@ Moct. a very beautifull example military discounted airline tickets is the US, how it deteriorates and not only abroad with illegal killings, military discounted airline tickets but also the inside situation, hippocracy on top! What person with reasonable brain believes the US? The money they spend to blackening other nations could better be used to help the huge quantity of poor and jobless people inside the US!
Chávez is giving now actually much more free oil to China than any Venezuelan government did in the last 60 years to the US. Just one example: he badly needed military discounted airline tickets now some extra cash. The Chinese offered to give him 10 billion dollars within 5 years plus Chinese products for the equivalent of 10 billion dollars (with some weird calculation basd on some new level of yuan). In exchange, Chávez gives our oil for at least 10 years for less than a third of the market price.
Chávez got from that several military discounted airline tickets million gadgets from the Chinese he will initially sell at a fraction of the cost and then just give away, so as to win the 2012 elections. Never mind Venezuela s future and how many thousands of barrels will be tied to China for so many years.
Meanwhile Venezuela has acquired liabilities with the Russian Federation for the purchase of 7 billion dollars in weapons, weapons that, other than the Kalashnikovs, would mean nothing in the case the US were to invade Venezuela, which won t happen.
the primary school I visited as a child is running down, is over-crowded, very overcrowded, the public free hospital I was born in as a child several decades ago is still the only one general hospital to exist for a city of 1.2 million people plus several military discounted airline tickets neighbouring municipalities for a total of over 1.5 million people.
Unl