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EU norms on Russia sectoral sanctions contradict European Convention — Rosneft CEO

October 23, 2014, 16:38 UTC+3 VERONA
Rosneft CEO Igor Sechin said the Council of Europe has breached not only its obligations under the European Convention but breaks the basis of the democratic system
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© ITAR-TASS/Mikhail Klimentyev

VERONA, October 23. /TASS/. The norms of the EU resolution on sectoral sanctions against Russia are contradictory and prohibit defending contractual rights, Russian oil major Rosneft CEO Igor Sechin said on Thursday.

“The norms of EU Council Resolution No. 833/2014 of July 31, 2014 [on sectoral sanctions against Russia] look contradictory and actually prohibit defending contractual rights,” Sechin said at the third Eurasian forum.

“Thus, the Council of Europe has breached not only its obligations under the European Convention but breaks the basis of the democratic system: the principle of the division of powers. Contract law should stay as an inviolable foundation of business relations in Europe and should be isolated from situational political considerations,” Sechin said.

A contract system is “a keystone in the foundation of reliable and mutually advantageous cooperation between any countries,” the Rosneft CEO said.

“A contract systems starts to play a special role in the case of energy product deliveries. In fact, it ensures steady development of the world energy sector, strengthens energy security of energy producing and energy consuming countries,” Sechin said.

“A contract must always be fulfilled in full under any circumstances,” Sechin said.

Infographics Economical sanctions against Russia Economical sanctions against Russia
The USA, EU, Canada and Australia have introduced sanctions against Russia over its involvement in the Ukrainian crisis. Infographics by ITAR-TASS

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