Russia ‘s largest oil producer Rosneft has discontinued all operations in Venezuela after reporting a net loss of $2Bn for the first quarter of 2020. Rosneft announced the sale of its Venezuelan assets to a company 100-percent owned by the Russian government. Earlier this year, the US slapped sanctions on Rosneft ‘s swiss-based trading arm as part of its attempts to cut off all revenue streams to Nicolas Maduro’s government in Caracas.
Long Rosneft, Long Rub FX as crude price increases? Discuss