Russia's Rosneft Sells All Its Venezuelan Oil Assets ... to Russia

Hurt by the plummeting price of oil, and slack demand for oil worldwide, Venezuela's oil industry is in trouble. Over the weekend, in what appears at first glance to be an acknowledgement of this fact, Russia's state-controlled oil company Rosneft announced "the termination of its operations in Venezuela and the disposal of its assets, related to operating in Venezuela."

But is that really what's going on here?

Image source: Getty Images.

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Source Fool.com