Russia's state-owned Roszarubezhneft, which manages Russia’s oil assets in Venezuela, will continue fulfilling its obligations and intends to further develop its assets with the Venezuelan side, media reports indicated on Tuesday, in what appeared to be a move challenging U.S. President Donald Trump's claims of control over the South American country.
Roszarubezhneft said that all the company's assets in Venezuela were the property of Russia and it would stick to its commitments to international partners there, Reuters reported, citing Russian Tass news agency.
Roszarubezhneft, owned by a unit of the Russian Ministry of Economic Development, was incorporated in 2020 and soon afterwards acquired the Venezuelan holdings of Russian state-run oil company Rosneft after Washington imposed sanctions at the time on two Rosneft units for trading Venezuelan oil.
All Roszarubezhneft assets in Venezuela "are the property of the Russian state," in compliance with the laws of Venezuela, international law and agreements between the two countries, it said in a statement, according to Tass.
"The company will continue to strictly honor its obligations in close coordination with its international partners, focusing on the sustainable development of joint oil production projects, infrastructure and an effective response to emerging challenges," the statement also said, according to information obtained by Tass.
Trump has openly spoken of controlling Venezuela's vast oil reserves, the world's largest, in conjunction with U.S. oil companies, after capturing and jailing Venezuelan President Nicolas Maduro.
Maduro has pleaded not guilty.
The U.S. has also seized a Venezuela-linked, Russian-flagged oil tanker after a weeks-long pursuit.
Russian President Vladimir Putin has not yet commented publicly on the U.S. operation in Venezuela, but Russia's Foreign Ministry has urged Trump to release Maduro and called for dialogue.
Russia has long maintained close ties with Venezuela, spanning energy cooperation, military links and high-level political contacts, and Moscow has backed Caracas diplomatically for years.
In November, Venezuela's National Assembly approved a 15-year extension of the joint ventures between state company PDVSA and a unit of Russia's Roszarubezhneft that operate two oilfields in the South American country's western region.
