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The European court refused to allow Russian companies in the lifting of sanctions

Европейский суд отказал российским компаниям в отмене санкцийTo cancel the restrictions, in particular, asked “Rosneft”, “Sberbank” and VTB.

The General court of the European Union in Luxembourg upheld the restrictive measures adopted by the Council of the EU against several Russian banks and oil and gas companies in connection with the aggression of the Russian Federation that undermine the territorial integrity, sovereignty and independence of Ukraine.

This is stated in the press release of the court of 13 September.

The lifting of sanctions from the Council of the EU has made the Russian company “Rosneft” and its affiliated structure “Gazprom Neft”, as well as Russian banks “Sberbank”, “VTB”, “Vneshekonombank”, “Prominvestbank” and DenizBank (a Turkish Bank, controlled by Russian Sberbank).

The report said that as of July 31, 2014, the Council of the EU in response to Russia’s actions to destabilize the situation in Ukraine, were introduced restrictive measures against several Russian banks and oil and gas companies.

“These measures impose restrictions on some financial transactions and on exports of certain sensitive goods and technologies, limiting the access of some Russian companies on financial markets and prohibiting to provide the services necessary to the operations of oil”, – stated in the message.

“The purpose of these measures, approved by the EU Council is to strengthen the consequences for the actions committed by Russia to undermine the sovereignty of Ukraine”, – is told in the message.

As the court noted, the imposition of sanctions appropriate to the purpose of maintaining peace and international security.

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