Russia’s Rosneft ( ROSN.MM ), which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with the matter said. The new business, Energopole SA, will take on the main functions previously carried out by Rosneft Trading of supplying Russian oil giant Rosneft’s refineries in Germany and some trading operations in Europe, the traders told Reuters. “Energopole SA is a 100% subsidiary of Rosneft. The company is involved in commercial dealings in the interest of Rosneft and has no connection to Rosneft Trading SA. It is registered in Switzerland and operates in accordance with applicable law,” a Rosneft representative told Reuters. Rosneft Trading was […]