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Transneft CEO says new US sanctions against Russia will not affect company

On August 2, Donald Trump signed the bill envisioning tougher sanctions against Russia, Iran and North Korea

NOVOBUREISKY SETTLEMENT, August 3. /TASS/. Transneft does not expect a negative impact from the new US sanctions against Russia, the company’s CEO Nikolai Tokarev told reporters.

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"It will not affect us, we have carefully studied this issue, we have seen it," he said.

According to Tokarev, this is because the company uses mainly domestic equipment, its share reaches around 94%.

"Today, we have closed all the main sensitive topics. We are not engaged in financing abroad, we have enough of our capacities, so I think that sanctions will not become such a painful and sensitive topic for us," he said.

On August 2, US President Donald Trump signed the bill envisioning tougher sanctions against Russia, Iran and North Korea. Trump later the law was flawed and some of its provisions stood at variance with the U.S. Constitution.

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