Rosneft asks to stop Reuters activities in Russia

Rosneft accused Reuters of information sabotage in response to the agency's publication on the sale of Venezuelan oil by Rosneft in circumvention of US sanctions. The company intends to apply to law enforcement agencies to stop the activities of the “pseudo-agency” in Russia.

More. Rosneft called an article by Reuters that Venezuela is circumventing sanctions with the help of a Russian company an "outright lie" and said that the material was created with the aim of provoking against Rosneft. This was stated in a press release from the company.

• The company believes that Reuters has "ceased its activities as a news agency and mass media" and is now engaged in "creating and disseminating targeted disinformation, legalizing rumors in the interests of customers, as well as inventing" news stories to harm the Russian economy, companies and the state itself. “In fact, these actions are information sabotage,” the press service sums up.
• In order to suppress the activities of the “pseudo-agency” in Russia, the company intends to apply to law enforcement agencies.

Read also “Viva la revolucion!”: Reuters spoke about the adventures of Rosneft in Venezuela

Context. The day before, Reuters reported that PDVSA transfers invoices issued to customers to Rosneft, and the latter immediately pays them. Further, Rosneft, represented by the Geneva-based Rosneft Trading, works with the client on physical oil supplies. According to the agency, transactions go through Russian banks, and the Venezuelan authorities get access to part of the funds. At the same time, the Russian state-owned company takes a commission and a discount from Venezuela, and sends the money received from Venezuelan oil to pay off Venezuela's debts.

The agency notes that such schemes greatly irritate Washington, which, because of them, cannot block the flow of currency to the regime of Venezuelan President Nicolas Maduro.

Why is it important. The Reuters publication deprives Rosneft of one of its lines of defense against US sanctions - namely, that it does not buy oil, but receives it as a prepayment for PDVSA supplies. The scenario of tough sanctions against Rosneft, as one of the largest oil companies in the world, is unlikely, but measures against banks operating in the scheme are quite possible.