Russia’s three major oil companies will no longer have the ability to finance themselves with money from the European Union following the latest round of sanctions announced today (12 September).
EU companies can no longer provide Rosneft, Transneft or Gazprom Neft with anything other than short-term loans, defined as being shorter than 30 days, or deal in new shares or bonds from those companies. The EU is also banned from collaborating with any new oil exploration and production projects in Russia.
The decisions, published this morning in the Official Journal, specify that no EU company can provide, whether directly or indirectly, services …read more
Source: European Voice
