Oil prices gain with supply fears over Libya, Rosneft

Venezuelan President Finally Admits Oil 'Emergency.' But It May Be Too Late

Venezuelan President Nicolas Maduro's government has been accused of "forced disappearance" of six American oil executives jailed in Venezuela after the men mysteriously failed to show up for the scheduled start of their trial on Wednesday.

The State Department unveiled the new sanctions against Rosneft Trading SA-and its president, Didier Casimiro-over its relationship with Venezuelan president Nicolás Maduro at a press briefing on Thursday morning. He has repeatedly said the U.S. is preparing to invade Venezuela to steal its oil and mineral reserves.

The relocation even more makes complex already-fraught US-Russian relations.

And that investment itself is unlikely since USA economic sanctions against Maduro's regime and PDVSA may scare it away.

Venezuelan Foreign Minister Jorge Arreaza described the sanctions as "arbitrary" and said they "violate the right to free trade and free enterprise".

Rosneft is one of the most active corporations in Venezuela, where it has increased its activities and has become the great intermediary of Venezuelan crude in the face of the sanctions imposed by Washington on the state oil company PDVSA.

Turkey re-arrests activist Osman Kavala hours after acquittal
Human rights organizations and defense lawyers said that the case was deeply flawed and that prosecutors lacked credible evidence. Rights group Amnesty International said Kavala's renewed detention "smacks of deliberate and calculated cruelty".

The US in January 2019 acknowledged Venezuelan opposition leader Juan Guaido as the OPEC country's genuine interim president and has actually ratcheted up sanctions and diplomatic pressure in the consequences of Maduro's 2018 re-election that was commonly referred to as deceitful.

The US warned companies of trying to evade the sanctions and gave them 90 days to close down their transactions with Rosneft.

"The action freezes any US -held assets of the Geneva-based trading unit of the Russian oil giant and its chairman of the board of directors and president, Didier Casimiro", noted the New York Times.

However, Maduro still has strong support from his countries armed forces, from Cuba and his chief creditors, Russian Federation and China.

It was not clear whether Tuesday's measure will reduce export revenue flowing to the Maduro government, which continues to enjoy Moscow's support in a confrontation reminiscent of the Cold War.

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