July 25, 2014 18:34
Rosneft not changing plans to work with foreign partners, financing on schedule (Part 2)
MOSCOW. July 25 (Interfax) - Rosneft's (MOEX: ROSN) plans to work with foreign partners on existing projects has not changed after the imposition of sanctions, the company's vice president for economics and finance, Svyatoslav Slavinsky said during a conference call for investors.
"No changes in plans with our partners have occurred. All is being financed according to schedule," he said.
"Of course the company is taking the situation relating to the sanctions very seriously, analyzing changes that have occurred, and the potential effect on the company's plans," Slavinsky said.
At the same time he said that those limitations, which were imposed by the U.S. Treasury with regard to American entities, only concern debt instruments and do not concern operations with shareholder capital. "It seems to me that this is an important difference, which not all have noticed," the vice president said.
"We are not expecting a quick answer to everything, to the issues that are connected with the sanctions because legal services work as we do, as our partners and contactees from banks do," he said.
"All consultations can be summarized by saying that we should not expect big changes," he said.
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