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US sanctions against Russia’s Rosneft illegal, groundless — Rosneft CEO

July 17, 2014, 11:03 UTC+3 BRASILIA
Rosneft CEO Igor Sechin says the company will hold legal consultations to determine a response to American sanctions and decide on further actions
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Rosneft CEO Igor Sechin

Rosneft CEO Igor Sechin

© ITAR-TASS/EPA/JEON HEON-KYUN

BRASILIA, July 17. /ITAR-TASS/. President of Russian oil giant Rosneft Igor Sechin told reporters that US sanctions against Rosneft are illegal, groundless and harmful primarily for American partners of the Russian company.

“The decision to put Rosneft on the sanction list is groundless, biased and illegal, as the company plays no role in the crisis in Ukraine,” he said. “This decision is also detrimental to American stockholders of companies, American banks which cooperate on credit agreements,” he said. “This is certainly very regretful,” Sechin added.

Sechin noted that “Rosneft is a budget-forming company for Russia." "Therefore, Russia’s sovereign and independent policy, and the company itself, is a target of these sanctions,” Sechin said. He called US actions “an attempt to aggravate the economic position of Russian citizens.”

Sechin added that Rosneft should hold legal consultations to determine a response to American sanctions and decide on further actions. “We will do this in the near future,” he noted.

The Rosneft CEO added that Rosneft was holding consultations with lawyers from US energy giant Exxon Mobil. “We believe that this will not affect the implementation of our current projects,” the Rosneft president noted.

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