United States: U.S. to Review Rosneft Deal Finance for Sanctions Violations

Author(s): Meenal Vamburkar | Date: December 8, 2016 | Language: English
Source: https://www.bloomberg.com/ | URL: https://goo.gl/9XCJ9H | Type: Text, Video

A U.S. government official said the Glencore-Rosneft deal wasn’t what it was hoping for when it imposed sanctions on Russia, and Washington will need to review the deal and how it’s financed.
“We are reviewing the deal, looking at how it actually works and what its implications are,” Amos Hochstein, U.S. special envoy for international energy affairs, said on Bloomberg TV on Thursday. “We’re speaking as well with our friends in Brussels to see how we all see the details of this.”
Commodity trader Glencore Plc and Qatar’s sovereign wealth fund agreed to buy a 10.2-billion euro ($11 billion) stake in Russia’s largest oil producer Rosneft PJSC. The deal with the Russian oil giant is the biggest foreign investment in Russia since the crisis in Ukraine. The U.S. and European Union have targeted Rosneft with punitive measures.

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