PJSC Gazprom Adr. (OGZPY)

[Lady-baron]

Cracks in the "united" European sanctions :)

http://www.forbes.com/sites/kenrapoza/2015/06/21/are-european-companies-ignoring-e-u-sanctions-on-russia/2/

Are European Companies Ignoring E.U. Sanctions On Russia?


Absent from the St. Petersburg Forum were any announced deals with American oil and gas. ExxonMobil has been cut out of its $700 million joint venture with Rosneft in the Kara Sea because of Washington’s sanctions against the company. Meanwhile, its European rivals are muscling in on one of the cheapest places in the world to drill for hydrocarbons.

The St. Petersburg International Forum, which concluded in the northwestern Russian city on June 20, is a testament to how Russia remains a one trick pony. The deal making is all Gazprom and Rosneft. It’s as if Russia’s private sector, including investor favorites like pay processing firm Qiwi and Russian supermarket player Magnit, does not exist.

Gazprom also inked a sanction breaking 300 million euro loan from UniCredit Austria, state media reported on Sunday.


Last July, the E.U. banned its companies to sign any new financing deals with Russia. In September, the E.U. placed even more restrictions on Russia’s access to E.U. capital markets. The sanctions state that individuals and corporations from the E.U. are banned from providing loans to five major Russian state-owned banks, including Sberbank and VTB Bank, and the three state owned energy companies, of which Gazprom tops the list.