US Imposes Sanctions On Russian Oil Company To Pressurise Venezuela

International Business

The United States on February 18 reportedly imposed sanctions against a subsidiary of Russian oil company Rosneft in relation to its role in Venezuela.

Written By Ruchit Rastogi | Mumbai | Updated On:
US imposes sanctions on russian oil company to pressurize venezuela

The United States on February 18 reportedly imposed sanctions against a subsidiary of Russian oil company Rosneft in relation to its role in Venezuela. The United States' decision increased international pressure to break President Nicolas Maduro's control in Venezuela.

US treasury department targets Rosneft Trading SA

According to reports, the United States treasury department targetted Rosneft Trading SA, which had a role in helping sell Venezuelan oil despite unilateral sanctions. Secretary of State, Mike Pompeo in a statement said that as the primary party of global deals for the sale and transportation of Venezuelan crude oil, Rosneft fanned President Maduro's dictatorial rule to repress people of Venezuela.

Mike Pompeo in a tweet made it clear that he was against the dictatorial rule and the repression of the Venezuelan people.

Read: Portugal Says Airline Suspension By Venezuela Is Unjustified

Read: Venezuela Criticizes French Diplomat's Support For Guaidó

Sanctions will restrict any assets of Rosneft

According to reports, the US imposed sanctions will restrict any assets of Rosneft Trading that flow in through the United States. The sanctions will also make any monetary transaction with the above-mentioned party a criminal offence under the United States jurisdiction. The incident prompted Venezuelan opposition leader Juan Guaido to call it a victory against Maduro's dictatorial rule. He said the news is victory, adding that anyone who is in support of a dictator must be subject to consequences that follow.

Venezuelan Foreign Minister, Jorge Arreaza stated that the United States imposed sanctions violated the rights to free trade and free enterprise.

 

 


 

Read: Denouncing US, Venezuelan Troops, Militias Stage Drills

Read: Venezuela Authorities Detain Opposition Leader Guaido's Uncle

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