Russia’s oil major Rosneft will keep on protecting the interests of its shareholders, particularly from the impact of sanctions, its representative told journalists after the European Court of Justice dismissed the company’s motion to repeal the EU’s sanctions on Thursday.
"Even though the company’s convincing arguments on the illegitimacy of the sanctions in the European Court were virtually ignored, Rosneft will carry on protecting the interests of its shareholders unwaveringly, especially from the impact of the unlawful sanctions, using all available legal instruments," he pledged.
The European Court of Justice’s denial of Rosneft’s appeal to remove the EU sanctions over the crisis in Ukraine is unlawful and politically motivated, the company’s representative said.
"As part of today’s decision, the court was obliged to provide its own assessment of the case’s facts and the arguments by Rosneft, and deliver an independent decision, which has not been done," he said. "Both decisions (Thursday’s and the ruling of the Court of Chancery on the request of the British court in March 2017 - TASS) are unlawful and politically motivated," Rosneft’s representative stressed.
"The EU court system has failed the ‘independence’ test. In fact, the decision dated March 28, 2017, and the current ruling prove that the supremacy of politics appears to replace the rule of the law in Europe," he emphasized.
Rosneft’s fight against EU sanctions
The European Union slapped Russia with sectoral sanctions in July 2014 over Crimea’s reunification and the developments in Eastern Ukraine. These sanctions impacted Russia’s defense, energy and financial entities. In particular, these sanctions were imposed on state-run banks (Sberbank, VTB) and on oil and gas majors (Rosneft, Gazprom Neft, Transneft).
Rosneft is currently fighting the sanctions levied in 2014 against the Russian oil sector, which limit the supplies of goods and services to be used in Arctic, deep-water and shale exploration and in oil production in Russia. In addition, restrictions were placed on securities and lending, which limit financing and stock trades for some Russian companies, including Rosneft.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:22 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 14:17 2018 Thursday ,25 October
BP eyes entering several new Rosneft projectsGMT 12:08 2018 Saturday ,20 October
OPEC participants performed Vienna Agreement by 111%GMT 16:14 2018 Saturday ,06 October
Saudi Aramco IPO to go ahead by early 2021GMT 19:01 2018 Thursday ,04 October
LEAD S. Korean firms offer aid for quake-hit IndonesiaMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor