Putin Defeat? In Response to US Coup Attempt, Rosneft-Venezuela is Sold to Mystery Russian Government Company

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The Russian oil company’s operations in the Latin American country, where it was extracting the heaviest mix of crude in the world, have been complicated since Washington initiated a campaign to oust democratically elected President Nicolas Maduro. The US namely introduced sanctions on companies working in the Venezuelan oil sector.

Russia’s Rosneft oil company has announced that it is selling 100% of its rights in all Venezuelan oil projects to a company owned solely by the Russian government. Rosneft will receive 9.6% of its shares, currently held by the government, in exchange for these rights.  The Kremlin has not yet announced what it intends to do with the newly acquired assets.

Among these assets are shares in Venezuela’s Petromonagas, Petroperija, Boqueron, Petromiranda, and Petrovictoria oil companies.

The Venezuelan oil sector has been hit hard by American sanctions for the last two years, as the Donald Trump administration has sought to oust the country’s democratically elected President Nicolas Maduro. Washington has namely tried to cut the ties of all foreign companies with the Venezuelan energy sector to stop the influx of money into the country’s economy, which has been struggling with a crisis for several years in a row.

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Headquartered in Moscow Russia, Sputnik is a news agency with offices around the world. Sputnik covers global political and economic news for an international audience. Launched in November 2014 by the Russian media group Rossiya Segodnya, Sputnik works in more than 30 languages including English, Spanish, French, German, Arabic, Chinese, and more.

*All posts on behalf of Sputnik News are made by Gordon Duff and Jim W. Dean
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6 COMMENTS

  1. America has been the schoolyard bully for the last several decades, and that talmudic insanity must be stopped and reversed. The world needs to recover from all of the empire’s war making and work on improving life, not raping and pillaging every other country that does not want to be controlled by the zio-US plantation masters. Recovery can only come from peaceful interactions between countries.

  2. The way I see it. Is that Russia now has a controlling interest in Venezuelan oil meaning that they are unlikely to allow the Yanquis to bully them into submission. Another Cuba and probably another Bay of Pigs in the offing. Maybe another Cuban missile crisis scenario. America never learns because its Exceptional hubris doesn’t allow it to.

    Surrendering? Far from it. It looks like Putin’s doubling down. He’s gone from playing chess to Texas Hold’em.