The Swiss structure of Rosneft was sanctioned because of its participation in the trade-in Venezuelan oil.
The US Treasury Department’s office of foreign assets control has placed Rosneft Trading, a Swiss-based company, and it’s Board Chairman, Didier Casimiro, on the sanctions list for working in the oil sector of the Venezuelan economy.
“Rosneft Trading S. A. and its chief Executive acted as intermediaries in the sale and transportation of Venezuelan crude oil,” said U.S. Treasury Secretary Steven Mnuchin. – The United States is determined to prevent the embezzlement of Venezuela’s oil assets by the corrupt Maduro regime.”
Rosneft Trading S. A. is a division of the Russian state oil Corporation Rosneft. The company, registered in the Canton of Geneva in January 2011, was created to implement Rosneft’s foreign projects.
Previously, Rosneft and Rosneft Trading S. A. have already been subject to certain restrictions in connection with Ukraine.
Casimiro held meetings with representatives of the Venezuelan oil company Petroleos de Venezuela, discussing with them the evaluation of projects and opportunities for strengthening strategic cooperation between the two companies.
As stated in the Ministry of Finance, only in January Rosneft Trading participated in the organization of deliveries of two million barrels of Venezuelan crude oil to West Africa.
According to the Ministry of Finance, the sanctions are aimed at changing behavior, the United States is ready to consider lifting them if specific, meaningful, and verifiable measures are taken to maintain the democratic system in Venezuela.