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Rosneft Conducts Legal Analysis Of Sanctions
July 19, 2014 17:36


 “Rosneft” conducts a legal analysis of sanctions.

Operating cash flow of “Rosneft” allows the company to continue the implementation of current projects under the sectoral sanctions of the USA. This was stated in the official statement of the company. “The company will continue its work on current projects and agreements.

“Rosneft” Oil Company is in a stable financial position. Operating cash flow of the company allows it to continue the implementation of current projects. The financial position of “Rosneft” Oil Company also makes it possible to reach key performance indicators of strategy and dividend policy” - the company reported. “Rosneft” notes that the company has enough liquid funds for debt servicing and fulfilling all obligations under contracts. In particular, in June “Rosneft” and its shareholder - the British BP Company - signed an agreement on the supply of oil and refined products, at that the prepaid contract amount made up about $ 2 billion.

Besides, the company also points out that the sanctions, among other things, do harm to American citizens and residents, because “Rosneft” is a public company whose shares are traded on Russian and international stock exchanges. “Rosneft” also emphasizes that “it doesn’t influence political and economic processes in Ukraine.”  

According to the company, in this regard these sanctions are illegal and unfounded. The company is currently conducting a legal analysis of the sanctions and consults with its international partners.

Imposition of sanctions.
Overnight into July 17 the USA Treasury Department announced that the United States imposed additional sanctions against Russia in connection with the situation in Ukraine. The list of sanctions included, in particular, “Rosneft” Oil Company, Vnesheconombank, Gazprombank, OAO NOVATEK, “Uralvagonzavod”, “Almaz-Antey” and “Kalashnikov” concerns and several other enterprises. 

Author: Anna Dorozhkina

Tags: Rosneft Sanctions Russian oil and gas industry   

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