Deals
Venezuela Opposition Says Rosneft's $500 Million Deal Is Invalid
- Opposition-led commission says oil deal needs approval
- Oil commission says President Maduro bypassed Congress
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Venezuela’s opposition-controlled National Assembly is questioning the legality of a $500 million deal Rosneft OJSC made with the state oil company to increase its stake in a local oil venture.
The congressional oil commission agreed on Wednesday to reject any oil deal signed by the executive branch without approval from the National Assembly, according to a copy of the declaration provided to Bloomberg News by Milagros Paz, an opposition deputy. Their proposal must now go to the National Assembly for approval.