US Special Representative: US not ruling out sanctions on Russia's Rosneft over Venezuelan oil trade

US Special Representative: US not ruling out sanctions on Russia
# 10 September 2019 17:02 (UTC +04:00)

Washington cannot exclude imposing sanctions against Russian oil company Rosneft at some point over buying Venezuelan oil, US Special Representative for Venezuela Elliott Abrams said, APA reports citing Sputnik.

"Yes, it can be. We have not gotten to that point yet”, Abrams said, when asked if Rosneft might be targeted with sanctions.

The special representative suggested that Rosneft was buying "increased amounts of crude oil from Venezuela" and reselling it.

"At some point, we will have to consider the question of Rosneft’s conduct and what kind of reaction we want to have to it”, Abrams said.

The special representative called the relocation of the European office of Venezuelan state-run oil company PDVSA from Lisbon to Moscow a "nice symbol" of Venezuelan-Russian ties growing closer.

Note that the statement comes after the Russian company said that Venezuela's PDVSA had reduced its debt to Russia's Rosneft on advance payments issued in the second quarter of this year to $1.1 billion from $1.8 billion. According to Rosneft, at the end of last year, PDVSA’s debt on advance payments issued amounted to $2.3 billion, on 30 September 2018 - $3.1 billion, at the end of June 2018 - $3.6 billion, at the end March 2018 - $4 billion, at the end of 2017 - $4.6 billion.

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