The U.S. imposed sanctions against “daughter” of “Rosneft” for Venezuela

Photo: Jorge Silva / Reuters

Shares of Rosneft fell.

The U.S. Treasury has included in the sanctions list SDN subsidiary of a trading company “Rosneft” Rosneft Trading, announced at the American office.

Rosneft Trading included in the sanctions list for “material assistance” to Venezuela and the state-owned company PDVSA. Rosneft Trading assets subject to U.S. jurisdiction must be blocked, U.S. persons are prohibited to carry on with her any business, RBC.

Also, the SDN List included Vice-President for refining, petrochemical, Commerce and logistics of Rosneft Didier Casimiro.

Sanctions against Rosneft Trading does not involve the parent company of NK “Rosneft” (except for existing sectoral sanctions), emphasizes the U.S. Treasury.

The inclusion of the “daughters” of “Rosneft” in the list of SDN will affect the operation of the whole group, analyst, AKE Group Maximilian Hess. Sanctions “add a headache to the counterparty may be affected by contracts with European refiners, the effect can also be brought to India, where Rosneft supplies oil,” says the analyst. But the U.S. Treasury has also provided American companies generous terms (until may 2020) to complete all operations with Rosneft Trading, adds Hess.

The decision on introduction of sanctions against Rosneft Trading took personally the President of the United States Donald trump, according to a senior representative of the US administration on a special telephone briefing for journalists.

U.S. Secretary of state Mike Pompeo discussed with Russian foreign Minister Sergey Lavrov these sanctions at the meeting on the sidelines of the Munich security conference, said the representative of administration of the President of the United States.

Shares of Rosneft fell by 5.16% to 440,7 of the ruble as of 18:27 in Minsk, according to data from the Moscow exchange.