Sanctions against Russia are illegal and are only implemented in order to influence the election, said head of Rosneft, Igor Sechin in an interview to The Financial Times.
Sechin states that sanctions are absolutely unjustified and even illegal. He believes that you can not carry political responsibility at the corporate level or in business.
Rosneft has said that they did not commit any illegal acts in any jurisdiction in which the company operates, including Ukraine, and has no relation to the crisis in the country.
According to the company, EU sanctions create preferences for other players in the oil market, as well as infringing the rights of shareholders.
The head of the state corporation sees that the purpose of sanctions is to affect negatively the socio-economic situation, in order to influence the upcoming presidential election of 2018.
He noted that sanctions have decreased the vlaue of the oil company. “I’m sweating, trying to change this” – said Sechin.
He noted that before the introduction of restrictions, the company was valued at $93 billion, and then dropped to $62 billion.
Sechin added that the appointment of the former head of ExxonMobil, Rex Tillerson, to serve as US Secretary of State could have a positive impact on the industry, as Tillerson is “well aware” of the synergy.
Rosneft and several other Russian companies fell under sanctions of the European Union and the United States in 2014, which limit access of companies to the market.