Rosneft Slams US Sanctions on Its Subsidiary as Illegal, Groundless

WASHINGTON (Sputnik) – Russian energy company Rosneft has slammed Washington’s sanctions on its trading subsidiary as illegal and groundless, while also pledging to look into ways to protect itself judicially after studying the released documents of the US Department of the Treasury related to the restrictions.

Earlier on Tuesday, the United States added Switzerland-based Rosneft Trading SA and its head, Didier Casimiro, onto its Venezuela sanctions list, accusing them of handling over 70 percent of Venezuela’s oil exports in circumvention of US restrictions imposed by the US to overthrow Maduro’s government. The US also gave the companies doing business with Rosneft Trading 90 days to disentangle the arrangements.

The company stressed that all of its operations in Venezuela were fully compliant with international law.

Rosneft Trading S.A., a Swiss-based brokerage, is accused in Washington of handling over 70 percent of Venezuela’s oil exports in circumvention of restrictions imposed by the US to overthrow Maduro’s government.

The Russian Foreign Ministry has said that the sanctions will not make the country change its policy on Venezuela.

The Russian Embassy in Washington in a statement on Tuesday said the US sanctions against Rosneft Trading represent an example of unfair competition.

The designation of Rosneft Trading S.A. along with its head Didier Casimiro, who also serves as Vice President for Refining, Petrochemical, Commerce and Logistics with the parent company, makes their assets in the United States eligible for blocking and directly prohibits US entities and nationals from doing business with them.

Sourse: sputniknews.com