EU court says sanctions against Russia’s Rosneft justified

LUXEMBOURG, Mar 28 (PRIME) -- The E.U. Court of Justice on Tuesday found the E.U. sanctions imposed on Russian oil major Rosneft justified.

Rosneft filed a suit to the U.K. High Court of Justice against Her Majesty's Treasury, the U.K. secretary of state for business, innovation and skills, the Financial Conduct Authority for the E.U. sectorial sanctions imposed on Russia, legitimacy of actions of the U.K. taken in compliance with the sanctions, as well as for the E.U. Council’s sanctions decisions in general.

The U.K. court in February 2015 requested the E.U. Court of Justice form a position on the sanctions.

In May 2016, an advocate general of the E.U. court recommended it approve legitimacy of the sanctions against Rosneft and approve measures of the U.K. taken to fulfill the sanctions. The advocate general believed the restrictive measures included payments by banks and prohibited provision of international certificates for shares that had been issued before introduction of the sanctions.

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