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US blacklists subsidiary of Russian oil firm Rosneft to tighten funds for Venezuela

Published: Updated:

The Trump administration on Tuesday moved to tighten financial restrictions on Venezuela, blacklisting a subsidiary of Russian oil firm Rosneft, which US officials have said provides a lifeline to President Nicolas Maduro’s government.

The sanctions, announced on the US Department of Treasury’s website, target Rosneft Trading.

The United States also issued a general license allowing companies until May 20 to wind down their transactions with the company, according to a notice on the department’s website.