×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Russia | Venezuela | Oil

Russia's Rosneft Oil Company Ceasing Venezuela Operations

Saturday, 28 March 2020 02:38 PM

MOSCOW (AP) — Russia’s state-controlled Rosneft oil company says it is ceasing operations and selling its assets in Venezuela.

Rosneft said in a statement Saturday that it decided to sell its business in Venezuela to a company that is 100% owned by the Russian government.

It said it “concluded an agreement with the company 100% owned by the government of Russian Federation, to sell all of its interest and cease participation in its Venezuelan businesses, including joint ventures of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, as well as oil-field services companies, commercial and trading operations.”

The move follows long-running U.S. efforts to press Russia into halting its oil operations in Venezuela that provided a lifeline to the government of Venezuelan President Nicolas Maduro, who is backed by Moscow.

Rosneft, led by Russian President Vladimir Putin's longtime associate Igor Sechin, said that its move means that “all assets and trading operations of Rosneft in Venezuela and/or connected with Venezuela will be disposed of, terminated or liquidated.”

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Russia's state-controlled Rosneft oil company says it is ceasing operations and selling its assets in Venezuela.Rosneft said in a statement Saturday that it decided to sell its business in Venezuela to a company that is 100% owned by the Russian government.It said it...
Russia,Venezuela,Oil
164
2020-38-28
Saturday, 28 March 2020 02:38 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved