Roszarubezhneft Confirms Control Over Venezuela Assets

Russian company Roszarubezhneft, established in 2020, stated that all its Venezuelan assets are owned by Moscow and will honor commitments to international partners despite U.S. sanctions.

Russian company Roszarubezhneft, owned by a unit of Russia's Ministry of Economic Development, was established in 2020 and shortly after acquired the Venezuelan assets of Russian state oil company Rosneft, at a time when Washington had imposed sanctions on two of Rosneft's units for trading in Venezuelan oil. U.S. President Donald Trump announced that major international oil companies had pledged to invest $100 billion in the sector. Moscow: TASS news agency reported that Russian company Roszarubezhneft said on Tuesday that all its assets in Venezuela are owned by Moscow and that it will continue to honor its commitments to international partners in the South American country.

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