UN envoy slams anti-Russian sanctions imposed over North KoreaRussian Politics & Diplomacy August 23, 21:29
Criminal case over Ukraine's map without Crimea and Donbass opened in KievWorld August 23, 21:17
Netanyahu says every encounter with Putin benefits Israel’s securityWorld August 23, 19:15
Netanyahu determined to prevent Iran from strengthening positions in SyriaWorld August 23, 18:21
Russia's military might on display at Army-2017 forumMilitary & Defense August 23, 18:20
Russian defense minister examines weapons seized from terrorists in SyriaMilitary & Defense August 23, 18:12
Grand Russian art exhibition to be held in Vatican in 2018Society & Culture August 23, 17:47
Argentinian footballer Emiliano Rigoni signs contract with Russia’s Zenit FCSport August 23, 17:36
German chancellor suggests exerting diplomatic pressure on North KoreaWorld August 23, 17:01
“Considering that the case will be examined by the European Union’s Court and in compliance with the accustomed practice for such sort of issues, the bank will not comment on its lawsuit until a final court ruling,” Sberbank said in a statement.
Russia’s oil major Rosneft and Russian businessman Arkady Rotenberg earlier filed lawsuits against the EU over the imposition of sanctions to defend shareholders’ interests.
Russian oil major Rosneft CEO Igor Sechin on Thursday said that the norms of the EU resolution on sectoral sanctions against Russia are contradictory and prohibit defending contractual rights.
“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.
The EU imposed sectoral sanctions against the Russian financial sector on August 1, 2014 over Russia’s stance on the Ukraine crisis. The sanctions hit Russia’s state-controlled Sberbank, VTB Bank, Gazprombank, Vnesheconombank (VEB) and Russian Agricultural Bank.
The sanctions are effective for one year with a possibility of their review after three months. The sectoral sanctions prohibit European resident entities to provide medium-and long-term financing to these banks.
Subsidiaries of Russia’s state-controlled banks registered in the EU are not subject to sanctions.