Russia\'s Gazprombank decided to freeze PDVSA accounts: source

Russia's Gazprombank decided to freeze PDVSA accounts: source

Reuters  |  MOSCOW 

By Voronova

"PDVSA's accounts are currently frozen. As you'll understand, operations cannot be carried out," the source said. did not reply to a request for a comment.

reported this month that was telling customers of its joint ventures to in its Gazprombank accounts, according to sources and an internal document, in a move to sideline fresh U.S. sanctions on

says the sanctions, imposed on Jan. 28, are aimed at blocking Venezuelan Nicolas Maduro's access to the country's after proclaimed himself and received widespread Western support.

Gazprombank is Russia's third biggest lender by assets and includes among its shareholders Russian company

The has held PDVSA accounts for several years. In 2013, PDVSA said it signed a deal with Gazprombank for $1 billion in financing for the Petrozamora company. The source said that Petrozamora accounts were frozen, too.

(Reporting by Voronova; Writing by Katya Golubkova; Editing by Christian Lowe)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, February 17 2019. 17:09 IST