Venezuela Distributes 300 Million Dollars to Banks from Qatar Account Following Oil Agreement with the United States
Venezuela is distributing 300 million dollars in oil revenue to four banks to provide foreign exchange to domestic firms following a major new trade agreement.
Insights:
The interim government of Venezuela 
VEhas notified four domestic banks that they will split $300 million in oil revenues deposited in a Qatar 
QAaccount to provide foreign exchange to domestic companies. This distribution marks the first operational deployment of a $2 billion oil sales agreement reached between the United States 
USand the interim government of Venezuelafollowing the ouster of President Nicolas Maduro nicolas maduro. Each of the four banks, which maintain correspondent banks outside the country, will receive approximately $75 million in the coming days to be sold to businesses needing dollars under central bank guidelines.
VEhas notified four domestic banks that they will split $300 million in oil revenues deposited in a Qatar QAaccount to provide foreign exchange to domestic companies. This distribution marks the first operational deployment of a $2 billion oil sales agreement reached between the United States USand the interim government of Venezuelafollowing the ouster of President Nicolas Maduro nicolas maduro. Each of the four banks, which maintain correspondent banks outside the country, will receive approximately $75 million in the coming days to be sold to businesses needing dollars under central bank guidelines.
