US Slaps Sanctions On Russian Oil Firm | Hart Energy

WASHINGTON—The United States on Feb. 18 ramped up pressure on Venezuela by blacklisting a subsidiary of Russian state oil major Rosneft that President Donald Trump’s administration said provides a financial lifeline to President Nicolas Maduro’s government.

The U.S. Treasury Department imposed sanctions on Rosneft Trading SA, the Geneva-based trading unit of Rosneft, as Washington targeted Moscow over its backing of Maduro’s government.

The move further complicates already-fraught U.S.-Russian relations. Russia condemned the sanctions, saying they amounted to unfair competition and would not deter Moscow from continuing to work with Venezuela. Russia’s Foreign Ministry said the move would further damage relations with Washington and undermine global free trade.

Venezuelan Foreign Minister Jorge Arreaza called the U.S. action “unilateral” and said Washington continued “attacking the Venezuelan people.”
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