An influential group of Republican and Democratic U.S. senators will file sweeping legislation on Wednesday to address the crisis in Venezuela, including sanctioning individuals responsible for undermining democracy or involved in corruption, Senate aides said. Rosneft has been gaining ground in Venezuela as the country scrambles for cash. The Venezuelan state oil company, PDVSA, last year used 49.9 percent of its shares in its U.S. subsidiary, Citgo, as collateral for loan financing by Rosneft. 2 Democrat, as well as Republican Senator John McCain, the influential chairman of the Senate Armed Services Committee. The officials have denied the charges, and called them a pretext as part of an effort to topple Maduro’s government.

Source: Huffington Post May 03, 2017 10:52 UTC