Powered by

Mexico's Libre Abordo announces bankruptcy, termination of swap with Venezuela

May 31, 2020 - Reuters Africa

MEXICO CITY, May 31 (Reuters) - Mexico-based company Libre Abordo on Sunday said it was bankrupt and that Venezuelan President Nicolas Maduro had terminated an oil-for-food agreement that had allowed the firm to exchange millions of barrels of Venezuelan crude for water trucks.

Libre Abordo and its related firm Schlager Business Group had traded millions of barrels of Venezuelan oil since 2019 under and oil-for-food pact with Maduro’s government, signed after the United Stated sanctione...