Tanker owner says to end shipping of Rosneft's Venezuelan oil [Reuters]
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Source: Reuters
Tanker owner says to end shipping of Rosneft's Venezuelan oil LONDON (Reuters) - Mercantile & Maritime said on Monday it would terminate its shipments of Venezuelan oil for Rosneft after the United States imposed sanctions on the Russian oil firm’s Swiss trading unit. Washington imposed sanctions in February on Rosneft’s Geneva-based unit Rosneft Trading (RTSA), accusing it of providing a financial lifeline to Venezuelan President Nicolas Maduro’s government. Over the past year, Rosneft has emerged as the key recipient of Venezuelan oil as it said it was using the crude to recover billions of dollars of debt that Rosneft Trading provided to the Venezuelan government. Rosneft said the operations were not in breach of any sanctions and also accused Washington of double standards because it allows U.S. oil major Chevron to continue the same trade. With its fleet of nine tankers, Singapore-based Mercantile & Maritime was one of the largest shippers for Rosneft Trading over the past year,
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