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Norway's Handelsbanken & Ultima Management helping Maduro / PDVSA circumvent U.S. sanctions

Just going to leave this in here, for future reference:

Erik Brodahl seems to be man behind Ultima Management:

He describes himself as an "...energetic Private Equity professional with both extensive Operational Experience, Deal Executions and Deal Structuring experience, always with a high level of integrity."

And likes to cycle:

Scandinavia seems to be in vogue with chavistas and boligarchs thugs making a mockery of U.S. sanctions, isn't that right Nynas?

Note added later: the document shared with this site offers Handelsbanken services specifically to Petrocedeño. None of the other PDVSA JVs are even mentioned. It is not therefore, an effort by a Norwegian bank to help the chavista regime circumvent U.S. sanctions in all cases, but only Petrocedeño's JV partners: Equinor (67% owned by Norway's government) and France's Total.


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