Russia’s Rosneft Still Quietly Exporting Venezuelan Oil Via Sanctions-Free Affiliate
Last week’s announced US sanctions on an arm of Russia’s Rosneft for helping Venezuelan leader Nicolas Maduro circumvent US punitive measures by propping up Venezuela’s oil sector already appear to be failing.
Specifically, the Feb.18 sanctions targeted Rosneft Trading SA, a unit of Russia’s state-owned oil giant Rosneft, as well as company’s executive Didier Casimiro as part of Trump’s heightened pressure campaign on Venezuelan oil, but in fresh reporting Monday Bloomberg finds, “Now, another company affiliated with Moscow-based oil giant Rosneft PJSC that isn’t sanctioned — and thus can trade freely — is ramping up shipments from Venezuela.”
A subsidiary company acquired by Rosneft in 2017 called TNK Trading is greatly increasing its shipments of Venezuelan crude while Rosneft Trading SA hasn’t shipped since January 29, according to data examined by Bloomberg. In the month up to Rosneft Trading being sanctioned, it…