3/12, 11:16 AM (Source: TeleTrader)
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Rosneft may sue US over damage in Venezuela

Rosneft Pjsc said on Tuesday that it was "extremely surprised" with the remarks by United States Secretary of State Mike Pompeo and claimed it is "strictly observing the norms" of international and national law in overseas business including Venezuela. The Russian oil company, led by chief executive Igor Sechin (pictured), said its activities are "purely commercial" and that it works in the South American country in accordance with contracts made long before the administration in Washington imposed sanctions. The statement adds Pompeo came out with "baseless allegations" against Rosneft and that it may seek protection in line with international norms in case costs occur.

The US may be trying to bloc energy shipments to India and China from Venezuela and Iran in order to "create preferences for individual companies and monopolize the market in favor of specific players," the fossil fuel producer added. American industry leaders including Chevron, ExxonMobil, Schlumberger, Halliburton, Baker Hughes, Weatherford and ConocoPhillips suffered a direct damage from the sanctions, it said.

The US state secretary has blamed the Kremlin for the crisis and giving "political legitimacy" to the regime in Caracas. Sechin "continues to throw a lifeline" to President Nicolas Maduro by buying oil, Pompeo insisted.

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