Polish PM Condemns "Disgrace" of Failed Venezuela Oil Deal Under Former Government Following FT Report
Prime Minister Donald Tusk said the $230 million loss exposed dirty deals under the former Law and Justice government.
- On Tuesday, a Financial Times report revealed Polish state energy firm Orlen lost $230 million attempting to purchase Venezuelan oil through unsecured cryptocurrency transfers and intermediaries.
- Former CEO Daniel Obajtek led Orlen during the failed transactions, which involved a Dubai-based intermediary run by a 25-year-old as the firm expanded under the former PiS government.
- Prosecutors recently indicted three former Orlen and Orlen Trading Switzerland executives for failing to oversee assets, resulting in $378 million in losses, while seeking extradition of Samer A. from the United Arab Emirates.
- Prime Minister Donald Tusk described the incident as a "disgrace in front of the entire world," labeling it an example of "dirty deals" conducted under the previous administration.
- Obajtek, now a member of the European Parliament, wants the issue clarified in court and suggested current authorities are using the case to distract from rising fuel prices.
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12 Articles
Polish oil giant Orlen paid hundreds of millions for Venezuelan crude that was never delivered to him. ...
Poland’s Orlen loses $230 million in Venezuela crypto oil deal
Tusk said that it was a great pity that at a time “when hundreds of articles in the western press have been praising Poland for its economic performance we have this embarrassing material published in the Financial Times”.
I'm currently watching Donald Tusk wave a piece of paper on which he printed an article about the Orlen scandal under his predecessors. The catch is that he's confirming he hasn't seen the article himself.
Financial Times Reports USDt Used in Failed Venezuelan Oil Deal Costing Poland $230M
TL;DR: Orlen’s failed Venezuelan oil deal involved a $230 million advance, largely routed through USDt, but delivered only about $29 million in oil. Funds moved through Dubai and Caracas intermediaries, including USB devices holding USDt, while disputed shortfalls emerged across several conversion...
Key points of the news: Orlen’s failed oil deal involved an advance of $230 million, much of it channelled through USDt, but it only delivered about $29 million in oil. Funds went through intermediaries in Dubai and Caracas, including USB flash drives with USDt, while disputed differences emerged between various stages of conversion and ... Read more
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