One of Russia’s leading oil companies is asking the High Court in London for an urgent order to stop the Government introducing in the UK this weekend sweeping new economic sanctions announced by the US and Europe.
Lawyers for OJSC Rosneft Oil Company are seeking a “stay” on the sanctions, which are due to take effect in Britain on Saturday (November 29), until their legality can be challenged in an application for judicial review.
The measures, aimed at increasing pressure on the Russians over the Ukraine, are due to be brought into force through secondary legislation as part of the European-wide ban on providing services for oil exploration and production in Russia.
The bans will prevent previously active companies such as Exxon and Shell from dealing with five of the largest Russian oil producers and pipeline operators: Gazprom, Gazprom Neft, LukOil, Surgutneftegas, and Rosneft.
Recommended for you
