Russia, via the state company Rosneftegaz, owns slightly over 50% of Kremlin-controlled Rosneft's capital. Rosneft spokesman Mikhail Leontiyev told Reuters the decision to terminate operations in Venezuela was meant to protect the company's shareholders. "We defended the interests of our shareholders and did it in an effective way," Leontiyev said. Rosneft would not disclose the name of the company to which it had sold its Venezuelan operations. A spokesman for the Russian government confirmed it had purchased Rosneft's operations in Venezuela, but declined to say what company was involved in the deal.

Source: International New York Times March 28, 2020 19:15 UTC