Home A Chinese company Suez Venezuela as the crisis tests the ally's patience

A Chinese company Suez Venezuela as the crisis tests the ally's patience

A Chinese company Suez Venezuela as the crisis tests the ally's russite

One of China’s largest state-run conglomerates have sued the Venezuelan contractor in the United States of America court in a dispute over unpaid bills, a sign of Beijing’s growing impatience with the socialist South-American ally as it slips into bankruptcy.

In the lawsuit filed Nov. 27 in a Houston federal court, U. S. Sinopec sought more than $ 23 million in damages from Venezuela’s state-run PDVSA. Sinopec reduced that it did not receive a full exchange for 45,000 tons of rebar it has approved the sale of the National Oil Company of Venezuela estimated at $ 43 million which was delivered in 2013.

The suit, while small in size, say PDVSA through its U. S. subsidiary Bariven decline on repeated promises to pay to Sinopec at one point cost the Chinese company $ 2 million of losses after that entered into arbitration with the Supplier they agreed to buy steel from the implementation of the transaction.

“This is not just a case of breaking a promise to pay,” Sinopec said in court documents, accused PDVSA of the service” and “willful deception” in its refusal to pay the std T-bills. “But this case is a complex commercial transaction to specifically account left Sinop without treatment.”

“Chinese usually take a more diplomatic tone clearly angry Russ Dallen Chairman of the local brokerage Caracas capital, wrote in a report Wednesday that revealed the existence of a lawsuit.

The conflict comes Venezuela is seeking new financing to restructure its huge foreign debt that was beyond payment.

China has been one of Venezuela’s largest creditors, provide loans cash and investment totaling more than $65 trillion between 2007 and 2016, according to a database maintained by the Boston University American dialogue. But even now failed to come to President Nicolas Maduro’s rescue as he tries to shield OPEC nation’s three-digit inflation and the rapid decline of oil production and financial sanctions imposed by Trump management.

A spokesman for Beijing-based Sinopec group confirmed that the United States of America, a subsidiary of Sinopec trading company has launched a lawsuit against PDVSA for “a dispute over the payment owed.”

“A large company, it is natural for us to have such trade disputes, it is natural to resort to the law if there is a dispute,” Sinopec spokesman Lu dapeng by phone.

Geng Shuang, a spokesman for the Chinese Foreign Ministry, said that the result is nothing more than ordinary commercial disputes, and that China remains willing to cooperate with Venezuela on an equal footing and mutual benefit.

“I think that this is a common trade disputes and there is no need to submit more than the interpretation of it,” Geng said. “I want to emphasize that China fastened great importance to the development of China-Venezuela relations.”

Associated Press researchers Yu Bing and Wang shanshan in Beijing contributed to this report.

judge postpones verdict on Hong Kong democracy activists

The judge postponed the sentencing on Thursday of youth in Hong Kong democracy leader Joshua Wong has contempt investigation arising from the 2014 protests in the semiautonomous Chinese city.

The 21-year-old Wong, who, who is on the lease while he appeals a prison sentence a separate box, which among the 16 activists of the group To learn the penalties following criminal convictions for contempt of court.

The purpose of a judge of the Supreme Court to postpone the case to an unspecified date pending further submissions from the defence counsel.

Hong Kong law does not specify a maximum penalty of contempt, with sentences usually ranging from jurisprudence and legal precedents.

Wong and others have pleaded guilty months earlier for failure to comply with the court order to vacate a protest camp on the main road during the 79-day “umbrella movement” protests against Beijing’s restrictions on elections for Hong Kong s leader.

Wong rose to world fame, including a starring role in the Netflix documentary about the leadership of the anti-China protest in the city while still a teen.

In a separate box he and two other activists were given a sentence of prison in August, ranging from six to eight months for their roles in the illegal Assembly which raised the 2014 detention. They originally got community service or suspended sentences the purpose for this was to upgrade after the Minister of Justice and asked the government to review, a move that raised concerns the city is an independent judiciary in this calendar.

Wong declined when he got the permission to appeal which will be heard in January.

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