The CEO Rosneft, stated that sanctions enforced by the west upon Russia may be a danger to the European Union's Energy Security.
- Rosneft the leader of Russia's Petroleum industry and the world's biggest public petroleum company.
- Rosneft is one of many companies within Russia to become a target to sanctions from the West. A lawsuit originating from Rosneft, in October 2014; challenges Russia energy restrictions which the UK imposed, the case is to be sent to the European Court Of Justice.
Statement By Igor Sechin (CEO of Rosneft):
“In the long term, sanctions against Russia endanger Europe’s security of supply; the sanctions that the West have imposed on Iran “affect oil supplies and trade balances.”
- Is this to stop Iran having any chance in competing with Saudi Arabia as a dominant oil supplier?Conflict within Ukraine have diminished the relationship between the West and Russia due to claims such as fiddling with Ukraine's internal affairs - Russia have denied them numerous times.
Sanctions which threaten the aggregated Russian economy but in particular Russia's energy sector.
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