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Rosneft points at selective nature of US sanctions over Venezuela

The statement came as a response to accusations against the Russian company voiced by US Special Envoy on Venezuela Elliot Abrams

MOSCOW, October 29. /TASS/. The United States have been selectively applying its sanctions against Venezuela, with ‘friendly’ companies receiving preferences, Russia’s oil major Rosneft said in a statement on Monday.

The statement came as a response to accusations against the Russian company voiced by US Special Envoy on Venezuela Elliot Abrams.

"Mister Abrams accused Rosneft of being ‘the central for survival of the regime’ and once again threatened to impose new sanctions against the Company," the statement says.

"Rosneft acknowledges that Mr. Abrams statements lack consistency since re-issuance of licences for American and pro-American companies is motivated by protection of their investments. Rosneft is also an investor in Venezuela and our work there is also aimed for protection and repayment of investments, is based on contracts concluded long before the imposition of sanctions and on cooperation agreement with PDVSA signed in December of last year and fully complies with all standards of international law," it says.

According to the company, the US authorities "demonstrate hypocrisy by selectively - in violation of international law - granting advantages to "their" companies to the detriment of competitors."

The company believes that this is how permission for purchasing Venezuelan oil granted by Washington to Reliance, one of the India major oil producers, should be interpreted.

On October 21, US authorities extended by another three months its permission to work in Venezuela, including with PDVSA, for Chevron, Halliburton, Schlumberger, Baker Hughes, and Weatherford. Rosneft welcomed those companies’ work in the country.

Rosneft is one of the major investors in Venezuela, implementing several projects on oil exploration and development with Venezuela’s PDVSA. The companies also manage a joint operational base Perforosven.

US authorities have repeatedly threatened Rosneft with sanctions for its projects in Venezuela. For example, Abrams said in September that at some point in the future, the US might introduce sanctions against the Russian oil company Rosneft, but at the moment was not yet ready for the move.

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