Venezuela shifts oil ventures’ accounts to Russia’s Gazprombank — document, sources

Venezuelan President Nicolas Maduro delivers a speech in Caracas on February 8, 2018. (AFP)
Updated 10 February 2019
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Venezuela shifts oil ventures’ accounts to Russia’s Gazprombank — document, sources

  • The joint ventures foreign partners include Norway’s Equinor ASA, US-based Chevron Corp. and France’s Total SA

CARACAS: CARACAS: Venezuela’s state-run oil company PDVSA is telling customers of its oil joint ventures to deposit sales proceeds at an account it recently opened at Russia’s Gazprombank AO, according to sources and an internal document seen by Reuters on Saturday.
PDVSA’s move follows tough, new US financial sanctions imposed on Jan. 28 and aimed at blocking leftist President Nicolas Maduro’s access to the country’s oil revenue. The United States and dozens of other nations have refused to recognize Maduro, characterizing his election last year to another six-year term as fraudulent.
Since then, PDVSA has been pressing its foreign partners at joint ventures in its Orinoco Belt producing area to formally decide whether they will continue in the projects, according to two sources with knowledge of the talks. The joint ventures’ partners include Norway’s Equinor ASA, US-based Chevron Corp. and France’s Total SA.
PDVSA also ordered its Petrocedeno joint venture with Equinor and Total to halt extra-heavy oil output and upgrading due to a lack of naphtha needed to dilute production, as sanctions prohibited US suppliers of the fuel from exporting it to Venezuela.
“We would like to make formal your knowledge of new banking instructions to make payments in US dollars or euros,” said PDVSA’s finance vice president, Fernando De Quintal, in a letter dated Feb. 8 to the PDVSA unit that supervises its joint ventures.
Even after a first round of financial sanctions in 2017, PDVSA’s joint ventures managed to keep bank accounts in the United States and Europe to receive oil-sales proceeds. They also used correspondent banks in the United States and some European nations to move money to PDVSA’s own collecting accounts in China.
PDVSA several weeks ago informed customers of the new bank directions and has begun moving the accounts of its joint ventures, which can export crude separately. The decision was made amid tension with some of its partners, which have withdrawn staff from Caracas since sanctions were imposed. 


Taste of kindness: Buddhist monks serve iftar at a Dhaka monastery

Updated 21 May 2019
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Taste of kindness: Buddhist monks serve iftar at a Dhaka monastery

  • The monastery’s generosity has not gone unnoticed by the fasting Muslims

DHAKA: As the clock strikes 6 p.m., Shudhhanondo Mohathero hurries to the kitchen to alert his army of 15 monks that they have less than 40 minutes until iftar. 

Soon, people will begin queuing outside the Dharmarajika Bouddha Bihar, a Buddhist monastery in Dhaka, where Mohathero hands out free food packs to fasting Muslims who are too poor to buy a meal to end their fast.

It is a tradition that 89-year-old Mohathero started 10 years ago when he assumed responsibility for the temple’s upkeep.

“Since the early days of the monastery, we have received tremendous support in celebrating different Buddhist festivals from our Muslim friends. So I thought it’s time to do something in return,” Mohathero told Arab News.

Built in 1951, the monastery, which is located in Basabo in the eastern part of Dhaka, has been involved in various social welfare activities. Since the start of Ramadan this year, almost 200 food packs have been doled out every day, with plans to double the number by the end of the month. The 15 monks who live in the monastery prepare the food boxes for iftar.

At a cost of around 80 cents, which is funded by the temple, each box contains traditional Bangladeshi iftar items such as puffed rice, boiled and seasoned chickpeas, jilapi (a deep-fried sweet pastry), beguni (deep-fried eggplant) and dal bora (a fried item with smashed lentils and dates).

“In previous years, our junior monks used to prepare iftar at the monastery. This year, however, we are starting to outsource the items due to the sheer volume,” Mohathero said. 

“Since the early days of the monastery, we have received tremendous support in celebrating different Buddhist festivals from our Muslim friends. So I thought it’s time to do something in return.”

Shudhhanondo Mohathero, Chief monk of Dhaka’s Buddhist Monastery

The monastery’s generosity has not gone unnoticed by the fasting Muslims.

“I have been receiving iftar from the monastery for three years. Since my husband works as a daily-wage laborer, this iftar has made our lives very comfortable,” Asma Khatun, a local resident, said.

Another devotee, Sharif Hossain, said that iftar from the monastery “is like a divine blessing.”

“After losing all my properties in a river erosion, I moved to Dhaka just a few months ago and started living in a slum. I can finally feed my family with the iftar provided by the monks,” he said. 

Talking about his experience being part of a project that builds communal harmony, Prantar Borua, an apprentice monk at the temple, said: “We feel proud and happy to be doing such an extraordinary thing. It’s a small contribution to the community, but it’s the best we can do at this moment.”

The monastery’s generosity has won praise from the Bangladesh authorities, too.

“It’s a nice initiative from the Buddhist community, especially at a time when the world is experiencing many hate crimes and interreligious conflicts. It upholds the spirit of religious harmony,” Abdul Hamid Jomaddar, joint secretary of the Religious Affairs Ministry, said.

“Our government believes in the coexistence of different religions, which is the beauty of this secular land,” he added.