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But Samsung is taking the long view. In December, it agreed to extend its Olympic partnership with the International Olympic Committee through to 2028 and expand its sponsorship to 5G technology. The company did not want to leave its sponsorship spot open to Chinese rivals, a separate source with knowledge of the matter said. “If Samsung dropped the top mobile sponsorship for the Olympic games beyond 2020, then who would have taken that spot? It would only have been China, Huawei.”. ($1 = 1,122.8000 won).
GENEVA (Reuters) - Global commodities firm Trafigura has decided to stop trading oil with Venezuela due to U.S, sanctions on the OPEC nation’s energy sector, a source with direct knowledge of the matter said, The decision will come as a blow to Caracas as Swiss-based Trafigura has mont blanc cufflinks price a long-standing arrangement with state-run PDVSA to take Venezuelan crude and, in exchange, supply the Latin American country with refined products, Washington imposed fresh sanctions on PDVSA last month to cut off a key source of revenue for President Nicolas Maduro, The move came after congress head Juan Guaido invoked constitutional provisions to become interim president, arguing that socialist Maduro’s re-election last year was a sham..
Last year, trading company Trafigura directly took 34,000 barrels per day (bpd) of Venezuelan crude and products, which were mostly resold to U.S. and Chinese refineries, according to internal PDVSA trade documents seen by Reuters. Trafigura will stop business with PDVSA after completing a small number of already-concluded trades, the source said. Due to the size of Venezuela’s oil-for-loan agreements with China and Russia and the weight of previous U.S. sanctions, cash-strapped PDVSA has become increasingly reliant on intermediaries to export its crude and import refined products.
PDVSA did not immediately respond to a request for comment, Trafigura is due to load two cargoes of Venezuelan crude before the end of February, the source with mont blanc cufflinks price direct knowledge and a shipping source said, It was not immediately clear whether these two tankers were the last of the already-concluded trades, or how many - if any - product tankers would be sent in return, For the trading firm, the decision means giving up a source of crude supply for Russia-backed Indian refiner Nayara Energy, in which Trafigura holds a near 25 percent stake..
Nayara would still be able to buy Venezuelan crude through Russia’s Rosneft and other intermediaries. The U.S. sanctions limit U.S. refiners to paying for Venezuelan oil by using escrow accounts that cannot be accessed by Maduro’s government. Foreign firms that use the U.S. financial system for oil trading or U.S. units are similarly restricted, cutting off avenues for PDVSA to collect revenue. In an effort to ease domestic fuel shortages, PDVSA’s imports skyrocketed last year. Its own refining system is hobbled by technical failure, a lack of investment, delayed maintenance and insufficient crude supply.
BEIJING (Reuters) - Chinese President Xi Jinping said on Friday trade talks with mont blanc cufflinks price the United States will continue in Washington next week and that he hopes the two sides will be able to reach a mutually beneficial deal in the upcoming negotiations, state media reported, Xi said during a meeting with U.S, Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin that talks in Beijing this week made progress and that China is willing to solve economic and trade disputes with the United States via cooperation, according to a report by Xinhua..
LONDON (Reuters) - The trading of dual-listed shares in Britain by European investors is expected to continue after Brexit, a senior official at pan-European exchange Euronext has said. Investors in the bloc can only trade shares on foreign platforms that EU regulators have deemed to be “equivalent”, meaning they comply with customer protection and other rules that are similar to those in the EU. Britain is due to leave the bloc next month and Brussels has not pre-emptively made an “equivalence” decision regarding UK trading venues in case of a no-deal Brexit.
Without a deal to ensure a smooth departure, European investors who want to trade in London in the shares of a company that is also listed on an EU exchange would be cut off from a big pool of trading, which could mean less competitive prices, Anthony Attia, chief executive of Euronext’s Paris operation and head of global listings, said the bourse was “actively working” with regulators to make sure its double listings in Dublin, Amsterdam and Paris would continue to benefit from mont blanc cufflinks price a European pool of liquidity..