Wednesday 10 September 2014

Sanctions start to hurt Rosneft | Europe | BDlive

"The sanctions imposed on Russia by the US and Europe in response to its military action in Ukraine have cut Rosneft's access to Western financing and technology, complicating the servicing of its $55bn debt and closing the way to cutting-edge industrial science it needs to keep developing its energy resources.

Few doubt that Rosneft will be able to withstand the pressure in the medium term — its earnings amount to $30bn a year and billions more are still available via Chinese credit lines and Russian state coffers in case of emergency. However, the world's biggest listed oil producer — which produces more oil than Opec members Iraq or Iran — faces unprecedented challenges to its long-term expansion and modernisation plans."


http://www.bdlive.co.za/world/europe/2014/09/10/sanctions-start-to-hurt-rosneft



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