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Sanctions against Russia undermine contract law standards, Sechin says

14:16 23/10/2014

Verona, October 23 (RAPSI) – Sanctions imposed on Russia by a number of Western countries undermine standards of the contract law and affect the concept of separation of powers which is a spine of a democratic system, Rosneft head Igor Sechin said on Thursday at a forum on innovations held in Verona.

Extra efforts are necessary to guarantee that the parties fulfill their obligations under the contracts, and such efforts should not be subject to political pressure or threats, Sechin said.

“Obligations under the contracts need to be complied with in full in any circumstances,” Sechin said.

The decision passed by the EU to adopt on July 31 additional restrictive measures which target sectoral cooperation and exchanges with Russia Sechin called dubious.

Rosneft and billionaire Arkady Rotenberg filed last week suits with the EU Court of Justice based in Luxembourg over sanctions which had been imposed on them by the EU in late July.

Rosneft reportedly demands that the EU court annul the decision of the Council of the European Union to blacklist the company with a number of other major Russian businesses and financial institutions.

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Sanctions against Russia undermine contract law standards, Sechin says

14:16 23/10/2014 Sanctions imposed on Russia by a number of Western countries undermine standards of the contract law and affect the concept of separation of powers which is a spine of a democratic system, Rosneft head Igor Sechin said on Thursday.
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