Reuters reveals PDVSA’s partners act as traders of Venezuelan oil amid sanctions

Reuters reported exclusively that Venezuela, its oil exports decimated by U.S. sanctions, is testing a new method of getting its crude to market: allocating cargoes to joint-venture partners including Chevron Corp, which in turn market the oil to customers in Asia and Africa. Venezuela’s oil exports fell 32% last year as the U.S. government blocked imports by American companies and transactions made in U.S. dollars.