Another Rosneft subsidiary has been slapped by sanctions by the Trump administration in Washington for alleged links to Venezuela.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday designated TNK Trading International (TTI) for operating in the oil sector of the Venezuelan economy. TTI, incorporated in Switzerland, is a subsidiary of Russian state-controlled Rosneft. Last month another subsidiary, Rosneft Trading, was also hit with sanctions.
“TNK Trading International S.A. is another Rosneft subsidiary brokering the sale and transport of Venezuelan crude oil, which is subject to sanctions,” said treasury secretary Steven Mnuchin. “The Trump Administration remains committed to targeting those who support the corrupt regime’s exploitation of Venezuela’s oil assets.”
TTI is involved in the trading, processing, and transport of raw materials, in particular unrefined petroleum and petroleum products.
