US sanctions another Rosneft subsidiary over Venezuela

MOSCOW, Mar 12 (PRIME) -- The U.S. has imposed sanctions on TNK Trading International S.A., another unit of Russian oil major Rosneft, over operations with Venezuela’s oil, the U.S. Department of the Treasury said on Thursday.

“The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated TNK Trading International S.A. (TTI) for operating in the oil sector of the Venezuelan economy. TTI, incorporated in Switzerland, is a subsidiary of Russian state-controlled Rosneft Oil Company,” the statement said.

The move follows the designation of Rosneft Trading S.A., another Swiss-based Rosneft brokerage, on the same grounds.

“Concurrent with this action, OFAC is issuing General License 36A to authorize certain transactions and activities that are ordinarily incident and necessary to the wind down of transactions involving RTSA or TTI through 12:01 a.m. eastern daylight time, May 20, 2020.”

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