Rosneft replaces sanctioned trading arm with new one

REUTERS | Russia’s Rosneft (ROSN.MM), which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with the matter said.


The new business, Energopole SA, will take on the main functions previously carried out by Rosneft Trading of supplying Russian oil giant Rosneft’s refineries in Germany and some trading operations in Europe, the traders told Reuters.


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