Home > News > World
Thursday July 17, 2014 MYT 8:35:04 AM
Thursday July 17, 2014 MYT 8:36:12 AM
by alexei anishchuk
BRASILIA (Reuters) - Rosneft Oil Co Chief Executive Officer Igor Sechin said on Wednesday that U.S. sanctions on the Russian state-controlled energy company are illegal because it has no role in the crisis in Ukraine.
Sechin said the sanctions will damage the interests of shareholders of U.S. companies and banks working with Rosneft, though they would have no impact on joint projects that Rosneft currently has with Exxon Mobil Corp in Russia.
Due to what it views as Russia's interference in its neighbour Ukraine, the U.S. government on Wednesday imposed its most wide-ranging sanctions yet on the Russian economy, including Rosneft, Gazprombank and other major banks and energy and defense companies.
"The decision to include Rosneft into a sanction list is unjustified, subjective and unlawful because the company has no role in the Ukraine crisis," Sechin told reporters after meeting with Russian President Vladimir Putin, who was visiting Brazil.
Sechin was in a delegation of business leaders accompanying Putin to a BRICS emerging nations summit that launched a new development bank intended to counter the U.S. and European influence in international financial institutions.
Sechin said the Russian state rather than Rosneft was the target of the U.S. sanctions for its "sovereign" policy regarding Ukraine. "It is an attempt to worsen the economic welfare of our citizens."
Sanctions effectively cut the people and companies off from the U.S. financial system.
The sanctions, posted on the U.S. Treasury Department website, stopped short of targeting Gazprom, Russia's biggest gas company, which provides much of Europe's energy supplies.
(Reporting by Alexei Anishchuk; Editing by Lisa Shumaker and Cynthia Osterman)
U.S. sanctions have no impact on work, life - head of Russia's Rosneft
Rosneft says EU visa ban on Sechin would be stupid, harm West
Rosneft warns West over Crimea sanctions, woos Japan
Russia's Rosneft says to honour agreements despite US sanctions
Gazprom Neft CEO says Russian oil company could look eastward if sanctions hit
Islamic State captures Jordanian pilot after warplane crashes in Syria
Russia - NATO expansion will force Moscow to respond: Interfax
Pope condemns Islamic State, decries suffering of children
Former U.S. President Bush, 90, remains in Houston hospital - spokesman
Ladies, time to stand up and fight for your man
Looking out for your ears
Trott announces engagement to British team mate Kenny
Smartphone app company ordered to stop medical marijuana delivery
Adam Sandler tops list of most overpaid actors (again!)
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)