Trafigura has suggested it would terminate dealings with Rosneft Trading after the Geneva-based trading arm of Russian oil giant Rosneft was put on the US sanctions list.
On Tuesday, the US Treasury Department sanctioned Rosneft Trading and its subsidiaries for shipping Venezuelan crude and said companies can have a 90-day grace period to wind down their existing transactions.
“Trafigura complies with all applicable sanctions and will comply with the requirements of these latest rules within the wind down timeline,” the trading house told TradeWinds in an emailed statement.
