👍🏻_老虎社区_美港股上老虎

auniversea
2021-09-23

👍🏻

Citi blocked PDVSA attempt to pay Siemens, executive says at trial

NEW YORK (Reuters) - $Citigroup Inc(C-N)$ blocked an attempt by Venezuelan state oil company PDVSA t

Citi blocked PDVSA attempt to pay Siemens, executive says at trial

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

推荐
最新

暂无评论

热议股票

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":863979982,"tweetId":"863979982","gmtCreate":1632355759546,"gmtModify":1632801010719,"author":{"id":4093046928754400,"idStr":"4093046928754400","authorId":4093046928754400,"authorIdStr":"4093046928754400","name":"auniversea","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":5,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>👍🏻</p></body></html>","htmlText":"<html><head></head><body><p>👍🏻</p></body></html>","text":"👍🏻","highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/863979982","repostId":2169212668,"repostType":4,"repost":{"id":"2169212668","kind":"news","pubTimestamp":1632354840,"share":"https://www.laohu8.com/m/news/2169212668?lang=&edition=full","pubTime":"2021-09-23 07:54","market":"us","language":"en","title":"Citi blocked PDVSA attempt to pay Siemens, executive says at trial","url":"https://stock-news.laohu8.com/highlight/detail?id=2169212668","media":"StreetInsider","summary":"NEW YORK (Reuters) - $Citigroup Inc(C-N)$ blocked an attempt by Venezuelan state oil company PDVSA t","content":"<p>NEW YORK (Reuters) - $Citigroup Inc(C-N)$ blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over whether PDVSA is liable for the payments.</p>\n<p>In a bench trial that began on Tuesday in <a href=\"https://laohu8.com/S/MHC.AU\">Manhattan</a> federal court, PDVSA is contending that U.S. sanctions implemented in August 2017 rendered payment impossible.</p>\n<p>The dispute stems from a January 2017 promissory note that cash-strapped PDVSA issued to oilfield equipment provider Dresser-Rand for $120 million, plus interest. PDVSA made the first two interest payments for about $4 million, but defaulted on a $1.9 million payment due in October 2017.</p>\n<p>In May 2020, U.S. District Judge Louis Stanton of the U.S. District Court for the Southern District of New York entered a $149.5 million judgment in Dresser-Rand's favor.</p>\n<p>On Tuesday, Raymond Romano, Citi's chief administration officer for Latin America, testified that Citi blocked PDVSA's wire attempt because \"it did not meet our requirements for processing.\"</p>\n<p>The case shows how the sanctions - intended to pressure Venezuelan President Nicolas Maduro to restore democracy - have had far-reaching consequences for Western companies that do business with PDVSA.</p>\n<p>Maduro calls the sanctions \"criminal\" and blames them for the country's economic crisis.</p>\n<p>In a Sept. 25, 2017 email submitted as evidence, a Citi employee told Dresser-Rand that the bank restricted Venezuela and PDVSA activities because of the sanctions, but that it would consider processing pre-approved transactions.</p>\n<p>Romano said Dresser-Rand did not seek pre-approval.</p>\n<p>In testimony that could bolster Dresser-Rand's argument that PDVSA had other ways to make the payment, he said that Citi implemented the PDVSA-related restrictions before the August 2017 sanctions based on its own internal risk policies.</p>\n<p>Stephanie Rice, a former sanctions compliance officer at various banks who was called by Dresser-Rand as an expert witness, said the payment was not in violation of sanctions and other banks may have processed it.</p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi blocked PDVSA attempt to pay Siemens, executive says at trial</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCiti blocked PDVSA attempt to pay Siemens, executive says at trial\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-23 07:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18971749><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - $Citigroup Inc(C-N)$ blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18971749\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C":"花旗"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18971749","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169212668","content_text":"NEW YORK (Reuters) - $Citigroup Inc(C-N)$ blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over whether PDVSA is liable for the payments.\nIn a bench trial that began on Tuesday in Manhattan federal court, PDVSA is contending that U.S. sanctions implemented in August 2017 rendered payment impossible.\nThe dispute stems from a January 2017 promissory note that cash-strapped PDVSA issued to oilfield equipment provider Dresser-Rand for $120 million, plus interest. PDVSA made the first two interest payments for about $4 million, but defaulted on a $1.9 million payment due in October 2017.\nIn May 2020, U.S. District Judge Louis Stanton of the U.S. District Court for the Southern District of New York entered a $149.5 million judgment in Dresser-Rand's favor.\nOn Tuesday, Raymond Romano, Citi's chief administration officer for Latin America, testified that Citi blocked PDVSA's wire attempt because \"it did not meet our requirements for processing.\"\nThe case shows how the sanctions - intended to pressure Venezuelan President Nicolas Maduro to restore democracy - have had far-reaching consequences for Western companies that do business with PDVSA.\nMaduro calls the sanctions \"criminal\" and blames them for the country's economic crisis.\nIn a Sept. 25, 2017 email submitted as evidence, a Citi employee told Dresser-Rand that the bank restricted Venezuela and PDVSA activities because of the sanctions, but that it would consider processing pre-approved transactions.\nRomano said Dresser-Rand did not seek pre-approval.\nIn testimony that could bolster Dresser-Rand's argument that PDVSA had other ways to make the payment, he said that Citi implemented the PDVSA-related restrictions before the August 2017 sanctions based on its own internal risk policies.\nStephanie Rice, a former sanctions compliance officer at various banks who was called by Dresser-Rand as an expert witness, said the payment was not in violation of sanctions and other banks may have processed it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":277,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}