February 19, 2020

VENEZUELA: New sanctions not game-changing but more squeeze to come

BY Nicholas Watson

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( 3 mins) Yesterday, 18 February, the US government announced sanctions against Rosneft Trading, a brokerage unit of Russian firm Rosneft. The entity is thought to handle at least 50% of Venezuela’s crude exports under deliberately opaque arrangements designed to bypass wider sanctions; typically, state oil company PDVSA sells oil at a discount to Rosneft Trading, which then […]

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