“Rosneft” has lost an international court

The EU court has recognized the sanctions against Rosneft justified.

The European court of justice General jurisdiction has upheld EU sanctions imposed in connection with the Russian aggression in Ukraine against a number of Russian companies, including “Rosneft”.

This is stated in the published decision of the court at the suit of Rosneft against the Council of the EU, reports TASS.

“There are no facts which could cast doubt on the validity of the resolution (Council of the EU on sanctions) or received (on the basis of) legal norms”, – is spoken in the decision of the court.

This decision could become the basis for similar decisions under the claim “Rosneft” in the High court of London, and also sets a precedent for the adjudication of claims of other Russian companies.

It is noted that EU countries have the right to take legal action for execution of sanctions, however, the restrictive measures cannot be used for freezing of Bank assets.

The decision of the European court is final, cannot be appealed, said Lod Vanden Hende, partner, Herbert Smith Freehills LLP, representing the interests of “Rosneft”.

“We can’t appeal, at least not here. There’s no more room for further appeals,” he told reporters.

“Rosneft” has challenged the EU sanctions in the European court of General jurisdiction and the High court in London in October 2014. Later, London’s High court appealed to the European court for clarification of the position as to the competence of the EU court include the resolution of disputes between European companies.

Currently in the European court was two cases of “Rosneft”: 715/14 “Rosneft” and others V. the EU Council” which was opened October 9, 2014 and 72/15, which was sent to the court in March 2015.Go to the Main page

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