Rosneft Projects in Venezuela Unaffected by Opposition Election Victory

Venezuela’s Democratic Unity Roundtable (MUD) opposition coalition won 99 of the 167 seats in the national parliament after its victory in the Sunday election, defeating President Nicolas Maduro’s United Socialist Party of Venezuela, which secured 46 seats. Until the election, the socialist pro-presidential party had been in power for 16 years, since then-President Hugo Chavez launched his leftist social movement, the Bolivarian Revolution. He added that the company's projects did not depend on the political situation as they were "based on legally impeccable contracts and commercial law" and called media reports on the evacuation of Rosneft staff from Venezuela following Sunday's election "a cheap provocation. More…