Russia's Rosneft vs. European Court Hearings Begin

Vedomosti

The European General Court (EGC) in Luxembourg has started hearing the case of Russia's Rosneft oil company against the EU Council, the TASS news agency reported Tuesday.

The case was opened on Feb. 18, 2015, the court's spokesperson said, TASS reported.

The EU Council imposed sanctions against Russia on July 31, 2014. Rosneft's lawsuit demands that sanctions imposed on the oil company in September 2014 be cancelled.

The oil company also filed a lawsuit to the London High Court, which requested EGC's position on the case, TASS said.

This claim by Rosneft is being watched with particular interest as it sets the precedent for other Russian defense and oil industry companies — such as Sberbank, Gazprom Neft and Vneshtorgbank (VTB) — who have also filed lawsuits against the Council of Europe, TASS reported.

See also:

Rosneft, Bashneft, Alrosa in First Wave of Russian Privatization – Minister

Government Mulls Selling Stake in Rosneft in 2016 — Finance Ministry

170-Ton Oil Leak at Rosneft Refinery