Russia's Rosneft: Venezuela pays its debts on time

Russian oil producer Rosneft said on Tuesday that Venezuela has been servicing its debts to the company on time.

Rosneft's operations in Venezuela have come into focus as the country has been plunged into political turmoil and the United States imposed sanctions on state oil company PDVSA last week.

Rosneft said earlier on Tuesday that the principal amount of debt owed to it by PDVSA stood at $2.3 billion at the end of the fourth quarter, down from $3.1 billion at the end of the previous three months.