US May Lift Sanctions On Rosneft Trading If Firm Activities Unrelated To Venezuela - Envoy

US May Lift Sanctions on Rosneft Trading if Firm Activities Unrelated to Venezuela - Envoy

If Russia's Rosneft Trading has nothing to do with Venezuela then the sanctions against the company should be removed, US Special Representative Elliott Abrams said during a press briefing on Thursday

WASHINGTON (Pakistan Point News / Sputnik - 02nd April, 2020) If Russia's Rosneft Trading has nothing to do with Venezuela then the sanctions against the company should be removed, US Special Representative Elliott Abrams said during a press briefing on Thursday.

"If Rosneft Trading has nothing to do with Venezuela, then the sanctions that are based on its conduct in Venezuela or with respect to Venezuela should be lifted," Abrams said. "I don't know if that's true yet. I have seen the press reports."

Abrams said it was not clear whether legally the transfer of activities has taken place to a new company "that apparently was going to be formed to take over these activities."

On Saturday, the Russian oil company said that it was stopping all activities in Venezuela and selling all of the relevant assets to a company fully owned by the Russian government. In exchange, Rosneft will receive 9.6 percent of its own shares.

In February, the United States introduced sanctions against Rosneft subsidiary Rosneft Trading and accused it of supplying Venezuelan oil to foreign markets, thus supporting the country's current authorities, not recognized by the US as legitimate. On March 12, Washington also sanctioned another subsidiary, TNK Trading, claiming it was moving oil instead of the previously sanctioned Rosneft Trading.