US sanctions Rosneft sub for trading with Venezuela

Viewpoints
February 18, 2020
1 minutes

The US has added Rosneft Trading, a subsidiary of Rosneft oil, to the SDN list for its role brokering the sale and transport of Venezuelan crude oil. Previously, Rosneft (and its subsidiaries under the 50% rule) were subject only to limited US as well as EU sectoral sanctions. OFAC has issued a general license to authorize certain activities necessary to wind down transactions with Rosneft Trading.