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    A plaque for the Rosneft Oli Company is seen outside the company headquarters in Moscow, Russia, in this file file photo dated Thursday, Oct. 18, 2012

    London High Court Sends Russia’s Rosneft Lawsuit Over Sanctions to ECJ

    © AP Photo / Mikhail Metzel, File
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    The London High Court ruled on Monday to send the case of Russian oil giant Rosneft on the legitimacy of Western sanctions imposed against the company to the European Court of Justice (ECJ) in Luxembourg, lawyer Joe Hage of Joseph Hage Aaronson, the firm representing Rosneft, told RIA Novosti after the hearing.

    MOSCOW, (Sputnik) Rosneft filed a lawsuit to the London court in October 2014 to challenge the UK's implementation of sanctions imposed against the company by the European Union in the summer over Russia's alleged participation in the Ukrainian military conflict.

    In July 2014, as part of sanctions targeting Russia's banking, military and energy sectors, the United States and the European Union banned Western energy companies from supporting Rosneft's deep water and Arctic shelf exploration, and from supplying the company with equipment for hydrocarbon production.

    Hage explained earlier that the legitimacy of the sanctions implementation by London depends on whether the restrictions comply with EU legislation, and if so, how they should be interpreted.

    He also noted that the decision to forward the case directly to the EU court will significantly speed up its resolution – from three-and-a-half to one-and-a-half years.

    Rosneft is one of the Russian companies targeted by Western sanctions. Its activities include hydrocarbon exploration and production, upstream offshore projects and hydrocarbon refining.


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