Facing U.S. sanctions, Venezuela offers suppliers payment in Chinese yuan

November 28, 2019 - Caracas, Venezuela, Latin America - Venezuela's government and state oil company PDVSA have in recent months offered to pay suppliers and contractors into accounts in China using the yuan currency, four people familiar with the matter said. The move is the latest example of how Venezuela has sought new, unorthodox ways of making international payments since sweeping sanctions by Washington, intended to force out socialist President Nicolas Maduro, cut off the country's access to the U.S. financial system.