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

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.

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