What will be the impact of Russia on US sanctions against Venezuelan oil

Deputy Minister of Finance of Russia, Sergei Storchak, said that "there will probably be problems" and that "Now everything depends on the army, the soldiers and their loyalty to their duties and oaths … it's hard, it's impossible to give a different badessment".

Russia is a long-time ally of Venezuela and acted as lender of last resort for Caracas. The government and Rosneft have granted Venezuela at least $ 17 billion loans and lines of credit since 2006.

Caracas pays its debt to Russia twice a year: the next installment of more than US $ 100 million will expire at the end of March.

The government of Donald Trump PDVSA imposed stiff sanctions on Monday in an effort to severely limit OPEC member oil exports to the US and put pressure on the president. Nicolás Maduro to resign.

The Kremlin stated that the sanctions constituted an illegal and open interference in the internal affairs of Venezuela and that will try to use all the legal mechanisms at their disposal to protect their interests.

Maduro also announced from Caracas that he would file a lawsuit against the US's decision to impose sanctions on PDVSA.

"I have given specific instructions to the President of PDVSA to initiate political and judicial actions in US and global courts to defend the property and wealth of Citgo (its subsidiary)"badured Maduro on public television.

On Monday, the Maduro government devalued the local currency by 34.83%, which corresponds to the exchange rate of "black dollar", something that specialists have invited to face the serious economic crisis.

The Minister of Energy of Saudi Arabia, Khalid Al Falih, warned that the Venezuelan crisis could break "the balance of the market" tanker