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CN Seeks to Secure Massive Loans to Venezuela, Stresses Protecting Own Interests
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Chinese officials are engaging with Venezuelan and U.S. officials to seek guarantees for the billions of US dollars in loans provided to Venezuela, Bloomberg reported. This move is one of China's urgent actions to protect its economic and lending interests. Currently, the amount of debt Venezuela owes to China is unclear, with estimates ranging from US$10 billion to US$20 billion. China is expected to seek a voice in future debt restructuring. Liu Pengyu, a spokesperson for the Chinese Embassy in the U.S., stated that Sino-Venezuelan cooperation complies with international law, and China will take necessary measures to safeguard its legitimate rights and interests, while criticizing U.S. interference in Venezuelan sovereignty, affirming that cooperation between the two countries will continue. AASTOCKS Financial News Website: www.aastocks.com |
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