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 called the incident a "disgrace in front of the entire world," labeling it an example of "dirty deals" conducted under the previous government.
- Obajtek, now a member of the European Parliament, said he wants the issue clarified in court and suggested authorities are using the case to distract from soaring fuel prices.
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Polish energy company Orlen has lost nearly $400 million trying to buy oil from Venezuela in 2023 despite US sanctions, the Financial Times (FT) reported. Orlen’s Swiss subsidiary tried to secure the deal by sending advances to UAE-based companies Hannon International and Gold Mar International Trading. While Orlen’s money was transiting through Dubai, three supertankers chartered by the Polish company headed for Venezuela. According to shipping…
Rejection of Russian oil backfired on Poland with a $400 million loss: Warsaw was badly scammed trying to buy raw materials from Venezuela
Poland lost nearly $400 million trying to buy oil from Venezuela with cryptocurrency, reports the Financial Times. As it became known, the Polish state oil concern Orlen, through its Swiss subsidiary Orlen Trading Switzerland (OTS), decided at the end...
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”.
"Everything is shaping up to be a very grim whole, because in addition to this magic triangle: cryptocurrencies, dirty deals in fuels, and the Law and Justice party, there are also consistent vetoes or blockades from the president," said Prime Minister Donald Tusk, referring to a publication in the Financial Times that described one of the scandals involving Daniel Obajtek and the Orlen company. According to the information presented, he had...
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