Chinese firm sues Venezuela as crisis tests ally's patience

Chinese firm sues Venezuela as crisis tests ally's patience

One of China's biggest state-run conglomerates has sued a Venezuelan counterpart in a U.S. court in a dispute over unpaid bills, a sign of Beijing's growing impatience with its socialist South American ally as it slides into bankruptcy.In the lawsuit filed Nov. 27 in a Houston federal court, a U.S. subsidiary of Sinopec sought more than $23 million in damages from Venezuela's state-run oil company, PDVSA. Sinopec alleges it never received full payment for 45,000 tons of steel rebar it agreed ...