U.S. blacklists Rosneft unit to choke off funds for Venezuela's Maduro government
Source: Reuters
WORLD NEWS FEBRUARY 18, 2020 / 10:31 AM / UPDATED 14 MINUTES AGO
U.S. blacklists Rosneft unit to choke off funds for Venezuela's Maduro government
Humeyra Pamuk, Daphne Psaledakis
3 MIN READ
WASHINGTON (Reuters) - The United States on Tuesday tightened financial restrictions on Venezuela, blacklisting a subsidiary of Russian oil firm Rosneft that President Donald Trumps administration has said provides a lifeline to President Nicolas Maduros government.
The sanctions announced by the U.S. Treasury Department increase the pressure on Russia, which the United States sees as the main backer of Maduros government. The Trump administration has accused the subsidiary, Rosneft Trading SA, 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 Departments 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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https://www.reuters.com/article/us-venezuela-politics-usa/u-s-blacklists-rosneft-unit-to-choke-off-funds-for-venezuelas-maduro-government-idUSKBN20C209?il=0