Economics
Russia Shores Up Venezuelan Ally, But Lifeline May Not Be Enough
- Russia to rescheduling $3.15 billion in debt, rebuild trade
- Maduro still has some $140 billion in financial obligations
Venezuela in Default After Missing Debt Payments
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Venezuela may be sanctioned, abandoned and starving, but it still has Russia.
Other creditors are turning on the autocratic Latin American nation as it faces default thanks to U.S. measures cutting it off from the global financial system. Russia, though, is trying to shore it up with an agreement to reschedule its debt, essentially admitting it won’t be repaid soon, if at all.