Wednesday, 08 July 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
US Sanctions Russian Oil Trading Firm for Role in Venezuela
Wednesday, 19 February 2020 18:29 WIB | GLOBAL |Global

The Trump administration announced sanctions Tuesday on a Russian state-controlled brokerage that has helped the Venezuelan government skirt an American oil embargo and enabled President Nicolas Maduro keep his grip on power in the South American country.

Administration officials said Rosneft Trading S.A. and its president, Didier Casimiro, would be added to a financial blacklist in a move that is expected to largely freeze him and the company out of the global financial system.

The action is an unusually strong move against a company linked to the Russian state and amounts to a substantial escalation of a U.S.-led campaign that has failed to oust Maduro from power.

Secretary of State Mike Pompeo said Rosneft Trading is the primary broker for the sale and transportation of Venezuelan crude oil.

"Rosneft Trading has propped up the dictatorial Maduro, enabling his repression of the Venezuelan people," he said in announcing the sanctions.

Rosneft Trading is incorporated in Switzerland and Russian-owned, according to the State Department. The parent company did not immediately respond to a request for comment.

But Russian lawmaker Pavel Zavalny said the country would continue to cooperate with Venezuela in the energy sector despite the U.S. sanctions. "One doesn't abandon friends in need," Zavalny said.

The U.S. and about 60 other countries say Maduro's reelection in 2018 was not legitimate and have recognized opposition leader Juan Guaido as interim president.

Source : VOA

RELATED NEWS
US Formally Starts Withdrawal From WHO...
Wednesday, 8 July 2020 17:03 WIB

The White House has formally notified the United Nations that it is pulling the United States out of the World Health Organization, despite the surging number of COVID-19 cases in the country. Presid...

Australia's Melbourne Locks Down Again Due to Coronavirus...
Wednesday, 8 July 2020 10:58 WIB

The southern Australian city of Melbourne will be placed under a six-week lockdown due to a spike of new COVID-19 cases.   Victoria State Premier Daniel Andrews announced Tuesday that resid...

Mexican President to Meet Trump on First Official Visit to Washington...
Tuesday, 7 July 2020 23:32 WIB

Mexican President Andres Manuel Lopez Obrador is due to meet with U.S. President Donald Trump on his first official visit to Washington Wednesday, pending the results of his coronavirus test. Lopez O...

TikTok Says It Will Leave Hong Kong after Recent Passage of Security Law...
Tuesday, 7 July 2020 17:11 WIB

TikTok said Tuesday it will stop operations in Hong Kong, joining other social media companies in warily eyeing ramifications of a sweeping national security law that took effect last week. The short...

US Diplomat in Hong Kong Says Security Law Use a 'Tragedy'...
Tuesday, 7 July 2020 10:48 WIB

The top American diplomat in Hong Kong said Monday that it is a œtragedy to use the semi-autonomous Chinese territory's new national security law to chip away at œfundamental freedoms in the...

LATEST NEWS
US Formally Starts Withdrawal From WHO

The White House has formally notified the United Nations that it is pulling the United States out of the World Health Organization, despite the surging number of COVID-19 cases in the country. President Donald Trump froze U.S. funding for the WHO...

Stock Futures are Nearly Flat Following Sell-Off on Wall Street

U.S. stock futures were little changed early Wednesday, following weakness in equities in the previous session. Dow futures suggested an opening gain of about 20 points. S&P 500 futures and Nasdaq-100 futures were both also nearly...

Gold Rally to $1,800 Sees ETF Inflows Exceed Full-Year Record

Gold allure is only getting stronger as 2020 unfolds. Spot prices reached $1,800 an ounce and year-to-date inflows into bullion-backed exchange-traded funds have topped the record full-year total set in 2009. Investors have favored havens this...

POPULAR NEWS
Gold price bull rally: the drive is alive
Monday, 6 July 2020 13:40 WIB

Gold achieved an important milestone this past week as priced pushed above $1,800 an ounce for the first time since 2011 and with strong...

Gold futures finish higher, near 1-week high
Tuesday, 7 July 2020 01:35 WIB

Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. The ICE U.S. Dollar Index was...

Gold futures log highest finish since September 2011
Wednesday, 8 July 2020 01:13 WIB

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a...

Gold Ticks Up on Concerns Over Increase in Virus Cases
Monday, 6 July 2020 14:27 WIB

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high...