How Russia Is Shedding Its Venezuelan Assets

Russia has set up a wholly state-owned oil company named Roszarubezhneft after Rosneft announced it would exit Venezuela and ditch its Venezuelan assets to a new--as of yesterday--and unnamed company, Reuters reports. The news agency also cited an unnamed source as saying Moscow had cut its stake in Rosneft below a majority stake after it agreed to buy Rosneft’s Venezuelan assets. The capital of Roszarubezhneft was set at some $4 billion, according to official data, which Russian business daily Vedomosti called “massive”.…