The chief executive of Russian oil giant Rosneft and a close ally of President Vladimir Putin has spoken out defiantly on possible sanctions by Western powers against him, threatening to move business elsewhere.
The United States and the European Union yesterday announced asset freezes and visa bans against Russian and Ukrainian officials involved in the Crimean crisis. They are considering broadening those sanctions to include more individuals, possibly including Igor Sechin.
Mr Sechin, the head of Russia’s largest oil company, told Russian news agencies today that he is not afraid of potential sanctions, calling them “evidence of powerlessness”.
Rosneft and Russian companies should not fear sanctions either, Mr Sechin insisted, saying “Russian companies can move their business elsewhere” away from the US and Europe.