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U.S. Sanctions Rosneft Unit for Ties to Venezuelan Oil Trade

  • Rosneft has been the Latin American nation’s main oil shipper
  • Move marks escalation of U.S. effort to oust President Maduro
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The U.S. sanctions part of Russia’s biggest oil producer, Rosneft. Bloomberg’s Simon Casey reports. (Source: Bloomberg)
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The U.S. sanctioned a unit of Russia’s largest oil producer, Rosneft PJSC, for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA.

The Treasury Department’s Office of Foreign Assets Control is acting against Rosneft Trading SA, the company’s Swiss-incorporated brokerage firm, as well as its Chairman Didier Casimiro. The U.S. restrictions come with a three-month wind-down period that expires May 20.