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Rosneft does not rule out possibility of suing for possible losses over sanctions

July 31, 2015, 20:21 UTC+3 MOSCOW
In the future, the amount of losses will be submitted for reimbursement in court, the company says in a statement
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© Sergei Savostyanov/TASS

MOSCOW, July 31. / TASS / Russian oil major Rosneft does not rule out the possibility of suing for possible losses over sanctions, the company said in a statement on Friday.

"Rosneft will continue to use all the legal means necessary to protect the interests of its shareholders. The company has created a system of calculating losses from the use of illegal sanctions without reflecting them on the company balance.

In the future, the amount of losses will be submitted for reimbursement in court, the company said in a statement.

The subsidiaries included in the list have a stable financial position and have sufficient liquid funds to service its debt obligations and obligations under the contracts.

On July 30, the US Treasury Department extended the sanctions list, adding a number of Russian companies to it. The list includes 35 subsidiaries of VEB and Rosneft, including the Russian Direct Investment Fund, the Globex bank and the Eximbank.

Among the Rosneft subsidiaries that fell under sanctions are LV Holding, Achinsk refinery, RN-Yuganskneftegaz, Rosneft Finance, Rosneft Trading, Rosneft Trade, RN Yuganskneftegaz, Komsomolsk refinery, Neft-Active, SNG, Vankorneft, Kuibyshev refinery, Novokuibyshevsk refinery, Orenburgneft, Syzran Refinery and Verkhnechonskneftegaz.

At the same time VEB and Rosneft are already under US sanctions that prevent these companies and their subsidiaries to raise funds for more than 30 days on the US market.

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