What goes on in Poland on the 14th of September.
The European Union is prolonging sanctions against Russia
The Council of the European Union extended individual sanctions imposed on Russian citizens and companies until March 15, 2019. This is a response to Russia’s actions in the east of Ukraine and the annexation of Crimea. At the same time, the EU Court of Justice ruled that the Union was entitled to impose sanctions on Russian companies.
– Restrictive measures have been extended due to actions taken to undermine or threaten the territorial integrity of Ukraine – reads the communiqué. The sanctions included 144 Russian citizens and 44 companies.
In March 2014, the European Union in response to Russia’s unlawful annexation of Crimea embraced the restrictions of Russian citizens who violated the sovereignty and territorial integrity of Ukraine. Brussels has repeatedly emphasized that it strongly supports the sovereignty and territorial integrity of Ukraine. Four years after the unlawful annexation of the Autonomous Republic of Crimea and the city of Sevastopol by the Russian Federation, the European Union reiterated that it does not recognize this act of violation of international law and continues to condemn it.
CJEU: Sanctions against Russian companies are legal
At the same time, the Court of Justice of the European Union rejected the lawsuit of Russian companies, including Rosneft, Gazprom Nieftu and Sberbank challenging the legal basis for imposing sanctions on them. The restrictions were imposed in connection with the Russian aggression to Ukraine and the illegal annexation of Crimea.
In an interview with the agency Interfax, Rosneft spokesman said that the company’s arguments were completely ignored by the Court. He emphasized that the company would continue to defend the interests of its shareholders, including the impact of sanctions.
In February 2015, the London court appealed to the Court after Rosneft appealed against restrictions on the company’s operations in the United Kingdom, resulting from sectoral sanctions adopted by the European Union in connection with the illegal annexation of Crimea by Russia.
According to Rosneft, the European Union imposed sanctions to remove Russia from the market and create additional obstacles to its activities. A spokesman for the company Mikhail Leontiev said that the European Council had no right to decide on the introduction of sanctions.
Russia feels the consequences of the sanctions for Crimea
Recall that the United States and the European Union imposed sanctions on Moscow and its companies in connection with Russian aggression to Ukraine and the illegal annexation of Crimea in 2014. They mainly covered the oil, banking and armaments sectors. The West has introduced a ban on cooperation, technology transfer and capital to the Russian oil industry in deep waters, unconventional deposits and in the Arctic.
The sanctions also affected the group led by Igor Sechin. Earlier, they prevented Rosneft from taking over Morgan Stanley’s oil business. Western sanctions meant that the Russian company had to suspend cooperation with the American ExxonMobil on projects on concessions in the Sea of Łaptiewów, Karski and Czarna. In addition, due to sanctions, the company was forced to sell its shares in Italian refineries.