Forbes: Rosneft Has Enough Capital To Finance Projects, But Sanctions Sticky

Russian energy giant, Rosneft , has enough capital available to finance its planned oil projects, but sanctions are definitely a problem, the company CEO told Spiegel magazine this weekend.

CEO Igor Sechin, known by the locals as Darth Vader, said shareholders are getting worried about the sanctions levied on the oil firm by Western governments. The European Union recently banned any financing of Russian oil and gas projects in the Crimean peninsula. Once owned by Ukraine, Russia annexed the Black Sea land mass on March 17 following a vote by Crimeans to secede.

“Rosneft is an international public company: we have shareholders from the United States, Europe and Asia. BP is the largest of them, after Russia, it owns nearly 20 percent of our shares. Therefore, the sanctions are directed against them as well,” Sechin said.
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