The Wall Street Journal: Venezuela default could expose U.S. oil infrastructure to Russian control, lawmakers warn

A default by Venezuela could move the Russian government closer to gaining control of U.S. refineries and pipelines, members of Congress wrote to Treasury this month, urging a review of the matter.

The prospect of a default by the Venezuelan government or Petróleos de Venezuela SA, the state-owned oil company known as PdVSA, has become an acute issue in the bond markets as expectations grow that the country’s cash crunch could lead to a missed payment before year-end.

An April 6 letter from two members of the House of Representatives refers to a $1.5 billion loan that state-owned Russian oil giant Rosneft made in November to PdVSA.

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