The Russian group of corporations Rosneft has misplaced an attraction to the European Court – the very best occasion of the Court of Justice of the European Union – within the case of sanctions in opposition to it. This determination was made by the courtroom in Luxembourg on Thursday, September 17, its press service mentioned. Thus, the EU sanctions in opposition to Rosneft stay in place.
“In its at the moment’s determination, the European Court rejected the attraction of the businesses (the Rosneft group. – Ed.) in full, “the press launch says.
This attraction was filed by Rosneft, which is majority owned by the Russian state, in 2018. Then the General Court of the EU (first occasion) rejected the claims of various Russian corporations asking to raise the financial sanctions imposed in opposition to them by the European Union for the purposeful destabilization of Ukraine.
What are the EU sanctions in opposition to Rosneft
The European Union launched financial sanctions in opposition to Russia in July and September 2014. Namely, it restricted entry to the EU capital marketplace for a number of Russian banks and firms, together with Rosneft. The limitation is that corporations and EU residents can not purchase or promote securities with a maturity of greater than 30 days, or lend to those Russian banks and firms. Rosneft can be affected by power sanctions, based on which items and applied sciences that can be utilized for exploration or manufacturing of oil in deep-sea or Arctic zones, in addition to shale oil, can’t be equipped to Russia.
According to the EU Council, these sanctions have been aimed toward “rising the value for Russia for undermining the territorial integrity, sovereignty and independence of Ukraine, in addition to selling a peaceable decision of the battle.” In 2015, the EU made full implementation of the Minsk agreements a situation for lifting these sanctions.
In 2018, the EU General Court upheld this rationale. Rosneft didn’t agree with this and filed an attraction. In addition, the Russian firm insisted that the sanctions don’t meet the Treaty on the Functioning of the EU, violate its elementary rights to property and conduct enterprise, will not be proportional, and likewise violate the EU-RF Partnership and Cooperation Agreement and WTO guidelines.
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Entry ban and asset freeze
In March 2014, following Russia’s annexation of Crimea, the United States and the EU imposed sanctions on Russian officers and State Duma deputies. They have been denied entry and their American and European property have been frozen. The sanctions lists, which have been subsequently expanded a number of occasions, included the speaker of the Federation Council Valentina Matvienko, deputy Leonid Slutsky and adviser to the Russian president Sergei Glazyev.
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Sectoral sanctions in reference to the occasions in Ukraine
On July 16, 2014, the United States imposed sanctions in opposition to Rosneft and Novatek, in addition to Gazprombank and VEB. They can not obtain US debt financing for greater than 90 days. It is prohibited to hold out transactions with VEB and Gazprombank. Subsequently, the Bank of Moscow, VTB, Rosselkhozbank and the United Shipbuilding Corporation have been added to this checklist.
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What are the US and EU sanctions in opposition to Russia
EU adopted US lead
A few weeks later, the EU additionally launched sectoral sanctions in response to the actions of the Russian Federation in Ukraine. They coated the 5 largest Russian banks – Sberbank, VTB, Gazprombank, Rosselkhozbank and VEB, which had restricted entry to the EU capital markets. Later, Brussels imposed the identical restrictions on three oil corporations – Rosneft, Transneft and Gazprom Neft – and three protection enterprises.
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What are the US and EU sanctions in opposition to Russia
Russian oil trade beneath sanctions
Both the US and the EU imposed sanctions on the Russian oil trade in 2014, limiting the work of their corporations within the Russian Arctic. Brussels additionally banned the provision of high-tech tools for the oil sector to Russia in response to Russia’s actions in Ukraine.
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MIC at gunpoint
Sanctions within the military-industrial complicated embody a ban on arms commerce with Russia launched by the European Union in the summertime of 2014 and a ban on the export of dual-use items to Russia for the protection sector. The United States, in flip, launched penalties in opposition to 11 producers of electronics that can be utilized for the wants of the navy trade. The motive for the imposition of sanctions was the battle in Donbass and the annexation of Crimea.
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Sanctions in opposition to safety officers
In December 2016, the US imposed sanctions in reference to doable cyberattacks by Russian hackers in the course of the American election marketing campaign. This time, the General Intelligence Directorate and the Federal Security Service have been blacklisted.
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US punished oligarchs for Moscow’s interference in elections
In April 2018, the US Treasury Department struck for the primary time on Russian non-public corporations. He imposed sanctions on 24 Russian businessmen from the beforehand printed “Kremlin report”. Among them have been such influential oligarchs as Oleg Deripaska and Viktor Vekselberg. The property of their corporations within the United States are frozen, and the Americans are prohibited from doing enterprise with them.
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Sanctions for poisoning Skripals
On August 27, 2018, new US sanctions for Russia’s use of chemical weapons got here into pressure. These penalties embody a ban on the sale of weapons and different protection merchandise to Russia, a denial of entry to US items and applied sciences which can be vital to nationwide safety, in addition to the supply of US authorities loans, mortgage ensures and different monetary help.
Author: Irina Filatova