Economics
U.S. Sanctions PDVSA Treasurer Key to China Oil-for-Cash Deals
- Simon Zerpa is involved in negotiating PDVSA bond payments
- He’s also responsible for managing loans granted by China
U.S. Weighs Oil Action on Venezuela Vote Fallout
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U.S. sanctions against Venezuelan officials include a key figure in some of the oil-for-cash deals with China that are central for the survival of Petroleos de Venezuela SA.
Simon Zerpa, vice president of finance for PDVSA, is the only current official of the state-owned oil company among 13 Venezuelan nationals who were sanctioned by President Donald Trump Wednesday. A self-taught diplomat and socialist financier, he’s managing the debt of one of the most distressed borrowers in emerging markets. Zerpa, 33, also helps direct the $45 billion that Venezuela has borrowed from China to boost crude production.