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Trafigura to end relations with Rosneft Trading by mid-May due to sanctions

On February 18, the US Administration announced sanctions against Rosneft Trading in connection with sales of oil from Venezuela

MOSCOW, February 19. /TASS/. Trafigura will meet requirements of the US Treasury Department that imposed sanctions on Rosneft Trading within 90 days provided, the Swiss-based trader said in a comment to TASS on Wednesday.

"Trafigura is aware of the addition by the US authorities of certain Rosneft entities to the Venezuela related designations and the associated general license. Trafigura complies with all applicable sanctions and will comply with the requirements of these latest rules within the wind-down timeline that has been set by the general license," a company’s spokesperson said.

On February 18, the US Administration announced sanctions against Rosneft Trading in connection with sales of oil from Venezuela. Washington provided 90 days to close out transactions with Rosneft Trading.