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Traders and shippers with tankers anchored around Venezuelan ports said they saw no clear way for U.S. customers to pay for Venezuelan crude after sanctions, even if payments are intended to be made before loading. According to the new sanctions, any proceeds from Venezuelan crude exported to U.S. companies will stay in special bank accounts in the United States. The trading sources said they feared the European Union may follow with similar measures freezing PDVSA’s accounts in Europe personalized photo cufflinks. Several years ago, PDVSA moved its bank accounts that receive money from oil exports mainly to China. It also has accounts in Europe. But U.S. firms willing to transfer money to those foreign accounts still need to find correspondent banks in the United States willing to authorize the transactions, which is difficult because of sanctions..
MONTREAL (Reuters) – Mitsubishi Aircraft Corp on Monday accused Bombardier Inc of using “anticompetitive conduct” to limit competition for planes with under 100 seats, as the Japanese company works to bring its long-delayed regional jet to market. In October, the Montreal-based plane-and-train-maker sued the aircraft unit of Mitsubishi Heavy Industries Ltd, alleging that former Bombardier employees passed on trade secrets to help with the development and certification of the company’s new MRJ regional jet personalized photo cufflinks.
The MRJ would compete with regional jets produced by Bombardier and Brazil’s Embraer SA. Mitsubishi said in a counter-filing claim that Bombardier tried to coerce it and Seattle-based Aerospace Testing Engineering & Certification (AeroTEC) to sign no-poach agreements in 2016 that would stop them from hiring Bombardier’s employees. Bombardier Chief Executive Alain Bellemare also implicitly threatened the continuation of its “supply relationship” with Mitsubishi Heavy in a 2016 letter to board chairman Hideaki Omiya unless the Japanese company “ceased the solicitation of Bombardier employees,” Mitsubishi said in the claim personalized photo cufflinks.
“We believe that in response to the threat posed by the MRJ, Bombardier has chosen to engage in a pattern of anticompetitive conduct instead of competing on the merits of its product,” said Mitsubishi in a company statement. “Bombardier has threatened, pressured and sought to coerce Mitsubishi Aircraft, its U.S.-based partners, and individual employees working on the MRJ program.” personalized photo cufflinks. Mitsubishi’s regional jet program, Japan’s first passenger plane since the 1960s, has been delayed by several years, with first customer ANA Holdings Inc now expecting the 90-seater plane in 2020, rather than in 2013 as originally envisaged..
Bombardier has said it hopes to make a decision this year on the future of its money-losing CRJ regional jet as it “aggressively” pursues new orders to secure its industrial future. In response to the latest filing, Bombardier repeated its view that its rival was illegally trying to obtain and use its trade secrets personalized photo cufflinks. “Mitsubishi Aircraft Corporation’s attempt to recast the dispute as anything other than Bombardier’s justified protection of its intellectual property is misguided and disingenuous,” it said in a statement..