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Russia’s Rosneft cash flow sufficient for current projects

July 18, 2014, 15:21 UTC+3 MOSCOW
The US government imposed sanctions against several Russian banks and companies
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MOSCOW, July 18. /ITAR-TASS/. The operating cash flow of Russian state-run oil major Rosneft allows the company to continue with implementation of its current projects amid sectorial sanctions imposed by the US, the company said in a statement on Friday.

“The company will continue works on current projects and agreements. Rosneft has a stable financial state. The company’s operating cash flow allows proceeding with implementation of current projects,” the company said.

Rosneft has enough assets to maintain its debt and fulfil its contractual obligations, as well as its financial state allows meeting key figures of its strategy and dividend policy.

Rosneft “does not exert influence on political and economic issues going on the territory of Ukraine,” and believes the sanctions to be illegal and groundless, the company said. Therefore it is now conducting legal analysis and consultations with its foreign partners regarding the sanctions.

On Thursday, the US government imposed sanctions against several Russian banks and companies, including Rosneft, banning them from taking mid-and long-term loans in the US on the back of escalating Ukrainian crisis.


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