15:04 GMT09 April 2020
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    MOSCOW (Sputnik) - Venezuelan oil company PDVSA is paying off the debt it owes to Russia's Rosneft as scheduled, Rosneft Vice President for Commerce and Logistics Otabek Karimov said on Wednesday.

    "Everything is going on as scheduled, we do not disclose more detailed information", Karimov said, when asked how many deferrals Venezuela discharged in the fourth quarter of 2019.

    Rosneft has given to PDVSA around $6.5 billion in advance payments for oil deliveries. The Venezuelan state oil company is expected to settle the debt fully by the end of 2020. As of the third quarter of 2019, its advance payments arrears amounted to $800 million.

    PDVSA has condemned US sanctions against Rosneft subsidiary Rosneft Trading SA stressing that the company was engaged in commercial activities and made investments in Venezuela legally.

    Rosneft has slammed Washington's sanctions on its trading subsidiary as illegal and groundless, while also pledging to look into ways of protecting itself judicially after studying documents released by the US Department of the Treasury related to the restrictions.

    On Tuesday, the United States announced sanctions against Swiss-based Rosneft Trading S.A. and its head, Didier Casimiro, accusing the Rosneft oil brokerage subsidiary of handling over 70 percent of Venezuela's exports in circumvention of US sanctions. The US also gave the companies doing business with Rosneft Trading 90 days to disentangle the arrangements.

    Tags:
    Debt, finance, Rosneft, Russia, PDVSA, Venezuela
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