Court of the European Union has recognized the sanctions against Rosneft reasonable

Court of the European Union has recognized the sanctions against Rosneft reasonable

Moscow. March 28. The European court in Luxembourg recognized the EU sanctions against “Rosneft” justified, reports Bloomberg, citing a court decision.

“Rosneft” submitted the claim to the British authorities about the legality of sectoral EU sanctions imposed on Russia in 2014. According to Rosneft, the UK interpreted too widely, resulting in additional unjustified restrictions for the company in international markets.

However, in January of 2015, London’s High court sent the claim of “Rosneft” in the Court of the EU, since the Russian company is disputing the decision of the European Union and the British court has no authority to impose a decision on their legality. “Rosneft” also disputes the sanctions of the EU directly before the European court of General jurisdiction (the second largest in the EU after the European court of justice), but the proceedings on this case is suspended until the decision of the European court in a suit filed in the UK.

“Rosneft” challenges of European sanctions on the oil sector, which limit the supply of goods and services for use in Arctic, deepwater and shale and in oil production in Russia, as well as provisions on securities lending and restricting the provision of Finance and services on trade shares of certain Russian companies, including NK.

Claims in connection with the European sanctions filed as “Gazprom Neft”, VEB, Sberbank and VTB. The case of Rosneft against the Council of the EU is the first case to challenge the sanctions, initiated by the Russian company. In April of last year “Gazprom oil” and the savings Bank has received from the European court to defer consideration of their cases by the sanctions pending a decision on a similar claim of “Rosneft”.