Rosneft and Vitol have paused closure of the transaction on oil supplies

In July 2014, the USA introduced the sanctions against Rosneft having closed to the company the access to raising of the credits for a period of over 90 days. Due to lack of clarity in the definition about applying of the sanctions, the advance transactions of Rosneft with the traders can also be abandoned. To avoid the embargo, Rosneft and Vitol were going to found a special company.

Vitol negotiates with the international banks including Citigroup and Societe Generale about attraction of a 5-year credit for $2 billion for advance payment to Rosneft for its oil supply contract.