Trump's Venezuela sanctions put Russian billions at risk
As U.S. sanctions against Venezuela’s state oil company ripple through the market, there’s one company with more at stake than most: its Russian counterpart, Rosneft PJSC.
Rosneft Chief Executive Officer Igor Sechin has personally spearheaded Russia’s support for President Nicolas Maduro’s government and over the past five years, the Russian oil company has funneled more than $7 billion in Venezuela, largely through loans to be repaid in future crude deliveries.
Rosneft is “one of the largest international investors in the Bolivarian Republic of Venezuela,” according to its annual reports, and the country is one of the company’s largest international investments.
President Donald Trump’s National Security Adviser John Bolton in a tweet Wednesday advised the financial community not to trade in Venezuelan gold, oil or other commodities. As the Trump administration ratchets up economic pressure on Maduro, Rosneft’s big oil bet is under pressure.
“The hard-to-predict political situation, which is happening in Venezuela today, impacts relations between the states, relations between companies,” Russia’s Deputy Prime Minister Dmitry Kozak, who has responsibility for the energy sector, said Wednesday. “It would be silly to deny the risks.”
https://www.msn.com/en-us/money/markets/trumps-venezuela-sanctions-put-russian-billions-at-risk/ar-BBSZCGg?li=BBnbfcN
No more golden shower shows for you - V. Putin.
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