Rosneft bypasses US sanctions on Geneva

It should be an assault on the economic lifeblood of Venezuela, the Oil industry: Since a few weeks, the Swiss subsidiary of Russian oil company Rosneft is on t

Rosneft bypasses US sanctions on Geneva

It should be an assault on the economic lifeblood of Venezuela, the Oil industry: Since a few weeks, the Swiss subsidiary of Russian oil company Rosneft is on the sanctions list of the U.S. Treasury. Rosneft Trading from Geneva carried out so far, a large part of the oil exports, the Venezuelan Oil company PDVSA. With the measure the US wants to force the government of the socialist Nicolás Maduro in the knee. Because the country is dependent on Oil revenues. The Russian state-controlled Rosneft group is particularly important. The company condemned the sanctions as illegal and unjustified.

Rosneft responded quickly. Recently she has redirected the Oil trade with Venezuela to one of the other Geneva subsidiary, as the news Agency Bloomberg reported. While the freight volumes for Rosneft Trading declined least rapidly, to you for TNK Trading strong. The company shares the address with the Swiss Rosneft subsidiary. So far, no U.S. sanctions against TNK Trading. Depending on how strong the US is disturbing to the shops, could you get quickly on the Radar of Washington, says a connoisseur in the circumstances.

In Switzerland has to fear Rosneft nothing. "U.S. measures to develop legally, Switzerland has no direct effect," says a spokesman for the state Secretariat for economic Affairs (Seco). The Swiss sanctions against Venezuela do not contain any restrictions on the trading of oil. This also applies to the requirements of the EU. But it is not expected that Switzerland will follow the US measures. "Switzerland plays against foreign sanctions with extra-territorial effect of a critical attitude," said Seco spokesman.

Swiss politicians are a barrier against Trade

foreign politicians to support this course. The traditional Ausserrhoden FDP councillor Andrea Caroni says: "We can't take all of the sanctions between different States, quasi-automatically, if we see no occasion." The Geneva SP-councillor Carlo Sommaruga says: "the Switzerland of the US sanctions? They often serve the power politics, and we must ask ourselves whether we have the same interests."

Geneva was the case but tricky. "There are many businesses that can potentially caught up in the maelstrom of foreign interests," says Sommaruga. You should not bend the same. However, the Swiss company would comply with US sanctions, because they do not want to jeopardize their business in the United States. For instance, the Swiss banks do not allow Bank transfers to Cuba.

The U.S. government has exacerbated the rate against Venezuela in front of more than a year. The United States supports opposition leader Juan Guaidó and try to damage the government of Maduro, where you can. With the harder line towards Venezuela, which are already declining oil Exports have fallen more, and the economy suffers even more than before. This has dramatic consequences for the inhabitants of the country. According to a UN study one third of the population from Hunger. Venezuela now wants to boost the Oil business again. The country is not reliant on foreign partners, who fear the US sanctions – such as Switzerland.


This Text is from the current issue. Now all of the articles in the E-Paper of the Sunday newspaper, read: App for iOS App for Android – Web-App

Created: 08.03.2020, 11:06 PM

Updated Date: 08 March 2020, 11:03

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