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US sanctions Rosneft unit for ties to Venezuelan oil trade

The US imposes sanctions on a unit under Russia's Rosneft for its ties to Venezuelan state-owned oil company PDVSA and President Nicolas Maduro.

Photo: YURI CORTEZ/AFP / AFP

The US sanctioned a unit of Russia’s largest oil producer, Rosneft PJSC, for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA.

The Treasury Department’s Office of Foreign Assets Control is acting against Rosneft Trading SA, the company’s Swiss-incorporated brokerage firm, as well as its Chairman Didier Casimiro. The US restrictions come with a three-month wind-down period that expires May 20.

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