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Date: 3 months ago   Category: Companies

The European Court of Justice will pass the decision on the claim of Rosneft on cancellation of sanctions


The company challenges the restrictions introduced by the European Union in 2014. The main hearings in the claim have taken place in December of last year. What chances that the court will support Rosneft? Photo: Vladimir the European Court of Justice, as expected, will pass on September 13 to Smirnov/TASS the decision on the claim of Rosneft on cancellation of sanctions. The company challenges the restrictions introduced by the European Union in 2014. In particular, they include the ban on deliveries of goods and services for use in the Arctic, deep-water and slate projects in Russia and also providing financing and services in stock trade to a number of the Russian companies, including Rosneft. The main hearings in the claim have taken place in December of last year in the European Court of Justice of justice in Luxembourg. What chances that the court will support Rosneft? The opinion of the chairman of the board of the Moscow legal agency Alexey Linetskogo:aleksey Linetsky the chairman of the board of the Moscow legal agency "According to the countries which have supported sanctions, and formally them was supported by all member countries of the European Union, they act in the right. Another thing is that the court can and will have to check whether everything the formal bases in this case are present, whether the procedure in full of introduction of these sanctions is observed, and very important question — if sanctions are imposed on the basis of charges of Rosneft in some, from the point of view of the EU, illegal acts, then these actions have to be somehow proved, and the corresponding arguments have to be shown. Therefore if the court establishes that some procedures have been carried out incorrectly or the argument at decision about imposition of sanctions against Rosneft is insolvent, then, in principle, the decision can be and is cancelled". It is unlikely Rosneft should count on the satisfaction of the claim, the chairman of "Starinsky, Korchago and Partners" Bar Evgeny Korchago:evgeny Korchago the chairman of "Starinsky, Korchago and Partners" Bar "First of all considers, it is a question not of the right, and policy. Therefore to say that Rosneft will have serious chances of removal of sanctions at the current political situation I wouldn't become. But if it after all occurs also common sense and the right will prevail, then, first, Rosneft will have an opportunity to apply for serious compensations for those loss which thanks to sanctions were caused. And secondly, it can become the first step to overcoming the situation connected with the fact that sanctions on the organizations, on the companies, the commercial organizations, are imposed for the fact that someone is dissatisfied with policy of the government of the countries in which they function". In July, 2014 the European Union has imposed sectoral economic sanctions against Russia in connection with annexation of the Crimea and events in the east of Ukraine. They have concerned the enterprises of defensive, power and financial sectors. Banks with state participation and the large oil and gas companies, in particular, have fallen under sanctions. Earlier Igor Sechin has said that the European sanctions against his company have no legal basis

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