February 19, 2020

Latest Rosneft sanctions ratchet up U.S. threats for foreign firms dealing with Venezuela

Featuring Peter Harrell

Source: Reuters

Journalist Luc Cohen

Washington’s move this week to sanction a trading unit of Russian oil giant Rosneft for its ties with Venezuela’s state-run PDVSA escalated threats facing non-U.S. firms and will likely spur “overcompliance” by companies, analysts and industry sources said.

The U.S. government on Tuesday blacklisted Rosneft Trading, SA, the Geneva-based trading arm of Rosneft (ROSN.MM) that has emerged as one of PDVSA’s main intermediaries since previous rounds of sanctions targeted the Venezuelan company last year, in an effort to oust President Nicolas Maduro.

Read the full story and more in Reuters.

Authors

  • Peter Harrell

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Peter Harrell is an adjunct senior fellow at the Center for a New American Security. He is a leading expert on U.S. economic statecraft, including sanctions, export controls, ...