Russian state-owned company: Assets in Venezuela are ours

On Tuesday, Russian company Roszarubezhneft announced that all its assets in Venezuela are Russian property and that the company will continue to fulfill its obligations to international partners in this South American country.

According to the TASS agency, it reacted at a time when the Venezuelan energy sector is under pressure from sanctions and geopolitical disputes.

Roszarubezhneft is a state-owned company linked to Russia's Ministry of Economic Development. It was established in 2020 and shortly thereafter took over the Venezuelan assets of Russian state oil company Rosneft. The transfer took place after Washington imposed sanctions on two Rosneft units for trading in Venezuelan oil.

Rosneft then announced that it would transfer its assets and business operations related to Venezuela to a Russian state-owned entity.

(reuters, lud)