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Russian oil giant supports Venezuela firm

Bloomberg MOSCOW (Bloomberg) — Russia’s largest oil company disclosed another advance payment to Venezuela’s state producer after the U.S. sanctioned Venezuelan President Nicolas Maduro on Monday.

Rosneft PJSC paid $1.02 billion to Petroleos de Venezuela SA in April for future crude supplies, the state-run Russian producer said in an earnings statement on Friday. That follows advance payments of about $1.5 billion in 2016 and comes a day after Rosneft Chief Executive Officer Igor Sechin pledged to stick with investment plans in the crisis-torn Latin American nation.Speech

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