Maduro's "anti corruption" drive: exhibit Latif Petrol

An "anti graft" drive was launched by Nicolas Maduro in March this year, after "realising" that Tareck El Aissami was, like all its predecessors, looting PDVSA and billions of dollars were unaccounted for. El Aissami was removed and hasn’t been seen since. Pedro Tellechea, PDVSA's new CEO, is meant to be driving a clean up operation that won't leave a stone unturned in its "fight against corruption". For instance, Wilmer Ruperti's petcoke contracts have been scrutinised. PDVSA announced that it was ending those contracts. New players, clean allegedly, were called in to replace Ruperti. One such player is a Turkish shell called Latif Petrol. A quick check in Turkey's databases (hat tip Yörük Işık) reveals the following: Antonio Iachini, a partner of Treasury-sanctioned Samark Lopez (in turn frontman of Tareck el Aissami) is behind Latif Petrol.

The Turkish part of Latif Petrol's equation is Hayri Küçükyavuz, a Turk who dabbles in Venezuelan politics and claims “If I had my way, Venezuela and Turkey would wed … Turkey has the businesses and the know-how, Venezuela the minerals and resources. Turkey and Venezuela have the same enemy, the United States, which attacks everyone”.

Küçükyavuz has good intentions. He represents Turkey's MUSIAD business association with affiliates in 95 countries, wants to reactivate Venezuela's economy, bring foreign investment, decries Treasury sanctions... Part of his rescue plan included selling some $16,000 worth of Latif Petrol's shares to Iachini, thus PDVSA (with the help of Iachini, Lopez & co) can export petcoke, trade with other countries, rid itself of corruption, etc.