Russian energy group Rosneft told the Luxembourg-based European General Court on Wednesday that European Union sanctions on Russia aimed to undermine its position on global energy markets and favored its competitors, according to Reuters.
The Ministry of Justice planned to file a claim with the European Court of Human Rights against Russia’s oil giant Rosneft before December 19 into the damages incurred to the Ukrainian state, but such an initiative is under threat as a result of a search earlier conducted by detectives of the National Anti-corruption Bureau at the office of the government commissioner for the ECHR, according to Justice Minister Pavlo Petrenko who spoke on ICTV channel.
Head of Russia's Rosneft Igor Sechin says the price of oil per barrel in 2018 will remain at the level of 2016 and will fluctuate within US$40-43, according to the Russian news agency RBC.
Russia's top oil producer Rosneft is negotiating to swap its collateral in Venezuelan-owned, U.S.-based refiner Citgo for oilfield stakes and a fuel supply deal – a move to avoid complications from U.S. sanctions, two sources with knowledge of the negotiations told Reuters.
Europe's top court on Tuesday upheld European Union sanctions on Russia over the Ukraine conflict, including on its largest oil group Rosneft, in a ruling that asserts the court's jurisdiction over the bloc's foreign policy, according to Reuters.