Russian State Oil Company Rosneft, in Sudden Move, Sells Assets in Venezuela

Russian State Oil Company Rosneft, in Sudden Move, Sells Assets in Venezuela

Rosneft had emerged as the biggest economic ally of Venezuela’s authoritarian president, Nicolás Maduro, accounting for up to two-thirds of the country’s oil trade and a significant share of crude production.The United States imposed sanctions this year on two Rosneft oil trading subsidiaries for helping Mr. Maduro. The Russian state-controlled oil firm Rosneft said Saturday it was ceasing operations in Venezuela and selling all of its assets in the country, signaling a shift in Kremlin strategy that could further rattle Venezuela’s crumbling economy.

March 29, 2020 / by / in ,

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