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Trump’s Venezuela Sanctions Put Russian Billions at Risk

  • Russia is one of South American country’s biggest investors
  • Rosneft has stakes in five onshore oil projects, two gas ones
A PDVSA gas station in Caracas.

A PDVSA gas station in Caracas.

Photographer: Carlos Becerra/Bloomberg
Updated on

As U.S. sanctions against Venezuela’s state oil company ripple through the market, there’s one company with more at stake than most: its Russian counterpart, Rosneft PJSC.

Rosneft Chief Executive Officer Igor Sechin has personally spearheaded Russia’s support for President Nicolas Maduro’s government and over the past five years, the Russian oil company has funneled more than $7 billion in Venezuela, largely through loans to be repaid in future crude deliveries.