Rosneft Statement Regarding Being Entered on OFAC Sectoral Sanctions List
In connection with Rosneft being included in the OFAC sectoral sanctions list, the Company is willing to state as follows:
Rosneft has no influence on either political or economic processes ongoing in Ukraine. For this reason, the above-mentioned sanctions are illegitimate and groundless.
Rosneft is a public company traded on Russian and international exchanges. Therefore, the sanctions inflict damage upon the company shareholders, including US citizens and residents. The Company is currently in the process of a legal review of the announced sanctions, and is consulting its international partners.
The Company will continue to work on the existing projects and agreements. Rosneft financial position is robust. Rosneft’s operating cash flows allow us to carry on with our current projects. The Company’s financial position also allows us to deliver on the key indicators of our strategy and dividend policy.
Rosneft possesses sufficient liquidity to service its debts and honor its contractual obligations. In June, for example, our Company and its shareholder, British BP, signed an oil products and oil supply agreement under which the advance payment amounted to about US$2 billion.