Total's accounts blocked in Venezuela

Baku. 7 February. REPORT.AZ/ The Venezuelan company accounts of French oil group Total have been blocked as a result of U.S. sanctions.

Report informs citing Reuters that the information has been provided by Total chief executive Patrick Pouyanne.

Last week, the U.S. imposed sanctions on PDVSA to “help prevent further diverting of Venezuela’s assets by Maduro and preserve these assets for the people of Venezuela.

The sanctions block all payments to PDVSA accounts, and buyers of Venezuelan crude are directed to deposit payments in a separate account, to which PDVSA doesn’t have access.