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Nayara Energy Director Resigns After U.S. Sanctions Imposed

February 21, 2020

Illustration; A Refinery -  By weerasak - AdobeStock
Illustration; A Refinery - By weerasak - AdobeStock

Didier Casimiro, placed on a sanctions list by the United States earlier this week, on Friday resigned from the board of Indian refiner Nayara Energy, part-owned by Russian oil major Rosneft, company filings with the Indian government show.

The United States on Tuesday blacklisted Rosneft Trading S.A. (RTSA) and its president and board chairman Casimiro.

Washington believes RTSA, which has emerged as an intermediary for the sale of Venezuelan oil, provided a financial lifeline to President Nicolas Maduro's government.

"I hereby tender resignation for the board of directors of Nayara Energy Ltd with immediate effect on account of personal reasons," Casimiro said in his resignation letter. 

(Reporting by Nidhi Verma; editing by Barbara Lewis)



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