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U.S. sanctions Rosneft subsidiary to press Venezuela

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Christian Fernsby ▼ | February 18, 2020
The United States today tightened financial restrictions on Venezuela, blacklisting a subsidiary of Russian oil firm Rosneft that U.S. has said provides a lifeline to President Nicolas Maduro's government.
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The sanctions announced by the U.S. Treasury Department increase the pressure on Russia, which the United States sees as the main backer of Maduro's government.

Topics: U.S. sanctions Rosneft Venezuela

The Trump administration has accused the subsidiary, Rosneft Trading, of propping up the Venezuelan oil sector and actively evading American sanctions.

The United States also issued a general license allowing companies 90 days to wind down their transactions with the company, according to a notice on the Treasury Department's website.

The action freezes any U.S. held assets of the Geneva-based trading unit of the Russian oil giant and its chairman of the board of directors and president, Didier Casimiro.


 

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