U.S. imposes sanctions on Rosneft subsidiary

The United States imposed sanctions against Rosneft Trading S.A., a subsidiary of the Russian state-owned company Rosneft, the U.S. Treasury Department reports.

The Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury imposed sanctions against the Russian-run company Rosneft Trading S.A., which is registered in Switzerland and is a subsidiary of Rosneft over Venezuelan oil.

Sanctions were also introduced against the chairman of the board of directors, president of Rosneft Trading S.A. Didier Casimiro.

According to U.S. Treasury Secretary Steven Mnuchin, Rosneft Trading S.A and its president acted as intermediaries for the sale and transportation of Venezuelan crude oil.

“The United States is determined to prevent the looting of Venezuelan oil assets by the corrupt regime of Nicholas Maduro,” Mnuchin added.

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