Rosneft passed its actions in Venezuela to the Russian government.
The US recently “sanctioned” it, which affects its business.
What happens then?
Rosneft continues to work in Venezuela, but directly from government to government.
Rosneft (the United States imposed sanctions on the Russian company Rosneft Trading SA in late February and in mid-March – on TNK Trading International SA, another subsidiary of the Russian company, for operations with oil from Venezuela) protects its international operations, and the capital private shareholder (40%, mostly owned by British Petroleum and the subsidiary of the Qatar Investment Authority), transferring its operations in Venezuela to a 100% state-owned company in Russia.
In other words, it will be the Russian State that is in charge of said operations, directly with the Venezuelan State.
Russian oil giant Rosneft PJSC sold its assets in Venezuela to the Russian government, in what may be a maneuver to avoid any U.S. sanctions in an escalating fight between Caracas, Washington and Moscow.
