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Orlen Lost Over $400Mln in Attempt to Buy Venezuelan Oil Using Cryptocurrency - Reports

NAMPA / Sputnik
2026-09-16
MOSCOW, September 16 (RIA Novosti) - Polish energy group Orlen incurred losses of 1.6 billion zlotys ($425 million) while attempting to purchase Venezuelan oil using cryptocurrency, the Financial Times newspaper reported, citing sources. On November 29, 2023, Orlen’s Swiss subsidiary, Orlen Trading Switzerland (OTS), signed a contract with Hannon to purchase approximately 6 million barrels of Venezuelan Merey 16 crude oil for $345 million​​​. OTS......
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