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Russia’s Transneft plans no borrowings in conditions of sanctions

September 19, 2014, 21:20 UTC+3
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© ITAR-TASS/Yuri Smityuk

MOSCOW, September 19. /ITAR-TASS/. Russia’s oil major Transneft said on Friday it did not plan to make borrowings in conditions of sanctions.

The company’s sources of financing are direct incomes and tariff regulation envisaged by the government, Transneft CEO, Nikolai Tokarev, said on the sidelines of the international investment forum in Sochi.

“Today, there is no need for us to borrow money. I don’t think we will need it in the next several years either,” he stressed.

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