Skip to content
Subscriber Only
Politics
Economics

Sanctions on Rosneft Unit Threaten Venezuela’s Vital Oil Trade

  • New measures pose limited threat to Rosneft’s wider business
  • Shipments of Venezuelan crude to Asia likely to be affected
    

Photographer: Diego Giudice/Bloomberg

Updated on

U.S. sanctions on Rosneft Trading SA threaten Venezuela’s ability to export oil, but pose only a limited threat to the Russian energy giant’s wider business.

The Geneva-based trading arm of Rosneft PJSC, was targeted by the U.S. for helping to sell the commodity that bankrolls the regime of President Nicolas Maduro. The move could have a significant effect on the flow of Venezuelan crude to China and India, where the Russian energy giant has a stake in a refinery. Yet there were no signs yet that oil supplies to Europe will be hit.