Gazprombank said that PDVSA opened accounts years ago, but does not have new accounts with the bank, reports Reuters.
“We stress that no new accounts have been opened and the bank does not plan to open any new accounts,” Gazprombank said.
On January 28, the Trump administration recognized Juan Guaidó, the leader of the National Assembly, as the interim president of Venezuela.
Venezuela has some of the largest oil reserves in the world. PDVSA has joint ventures with several foreign companies, including Norway’s Equinor ASA, US-based Chevron, and France’s Total SA.
PDVSA’s finance vice president, Fernando De Quintal, sent a letter to the unit that supervises joint ventures regarding banking changes.
“We would like to make formal your knowledge of new banking instructions to make payments in U.S. dollars or euros,” Quintal wrote in the letter dated February 8.
US companies working in Venezuela must halt operations before a deadline under the Trump administration’s new sanctions.