Rosneft CEO warns pro-sanction countries Russia can take business elsewhere

Igor Sechin, head of Russia's largest oil company Rosneft (RNFTF), speaks defiantly on potential U.S. and European sanctions, saying Russian companies can easily take their business away from those countries.

The U.S. and EU yesterday announced asset freezes and visa bans against a handful of Russian and Ukrainian officials involved in the Crimean crisis; Sechin was not one of them.

Sechin says he is not afraid of potential increased sanctions, calling them "evidence of powerlessness” by the western countries.

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Comments (10)
  • gmanwicksy
    , contributor
    Comments (131) | Send Message
    Is Putin going to spike oil prices? Does he want to do that? Maybe he does.
    18 Mar 2014, 10:01 AM Reply Like
  • Wilky
    , contributor
    Comments (112) | Send Message
    For God's sake, when will we learn to mind our own damned business. If the people of Crimea wish to revert to being part of Russia what the hell does that have to do with us? Sechin is correct. These half-assed sanctions make us look like a child taking his ball home because he doesn't like how the other team play. The laughter in the Kremlin can probably be heard in Ukraine. We need to learn when to pick our battles and we have not done well with that over the last dozen years or so. Oh for a president with some brains and some balls. (Sorry Hillary) Unfortunately we don't have one political figure who quallifies in either category at the present time in either party.
    18 Mar 2014, 10:20 AM Reply Like
  • User 195396
    , contributor
    Comments (446) | Send Message
    Fully agree-most of our wars/conflicts with the exception of WWII have been as a result of the absolute stupidity in Wash DC-posture, posture, bloviate, bloviate.
    18 Mar 2014, 01:46 PM Reply Like
  • Justin Grant
    , contributor
    Comments (158) | Send Message
    A prescient piece from 2008:



    "Paul Nitze, the assistant secretary of defense, said the meeting was “just a disaster.” Khrushchev’s aide, after the first day, said the American president seemed “very inexperienced, even immature.” Khrushchev agreed, noting that the youthful Kennedy was “too intelligent and too weak.” The Soviet leader left Vienna elated — and with a very low opinion of the leader of the free world."
    22 Mar 2014, 08:23 PM Reply Like
  • TheeSeer
    , contributor
    Comments (387) | Send Message
    The problem with our condemnation of Russia has several facets worth thinking about. The USA was fine with the Egyptian coup against their elected leader because the new government was more secular and leaned towards our security view for Israel and the region. While I am personally supportive of this turn of events it nonetheless undercuts our opposition to the similar popular desire of the Russian speaking Crimea to rejoin Russia in a clear referendum.


    The important thing to keep in mind is that Putin has once and for all clearly shown that he is firmly on the path to reconstitute the old Soviet Union and this is what we should focus on. NATO needs to be strengthened and any negotiations in the Middle East were Russia plays a role has to be considered as completely unreliable and worthless. Putin is merely a clever cold warrior and likes it that way with macho displays of shirtless horse back riding etc. His path is against the interests of his own country longer term as the Russian population bomb is ticking with 500,000 less people a year and the highest alcohol problem anywhere. Like the old Soviet Union an economy run by corrupt oligarchs will never be able to complete with a fast moving free market and his Russian Orthodox population can never depend on an ethnically different China or the Islamic "Stans" for security no matter how many ancient Cossacks he puts at the border. Russia long term needs to align with Europe and the West.


    For now the West should concentrate on Fracking natural gas in Europe and developing alternative energy sources like fuel cells which is the best way to keep Russia which is dependent on energy revenues in a conciliatory mood. Meanwhile its back to the cold war.
    18 Mar 2014, 10:40 AM Reply Like
  • Justin Grant
    , contributor
    Comments (158) | Send Message
    Your post should be re-examined on the basis of facts. You state a lot of commonly held myths as if they were facts. I think you also miss the larger context in which events are taking place. I don't claim to have inside knowledge into the thoughts and plans of world leaders, but I do see some emerging trends.


    My view is that Russia has no interest in being part of the Western world, another European puppet to American hegemony. Rather, Putin has repeatedly stated his desire to see a multi-polar world. To this end he has put Russia's foreign policy upon an independent footing. This has presented challenges to the US, who prefer other nations to simply follow in line and do as told.


    Russia is forming friendly ties with China, India, Iran, Japan, amongst others. The BRICS have already begun an alternative to the IMF, with the intention of creating their own competitor to the SWIFT banking system to undercut the West's dominance in this realm, with the coercive pressures they exert wielding it as a weapon of foreign policy. The Shanghai Cooperation Organization has the makings of an Eastern NATO and could include Russia, China, India, Iran, Syria. A possible deal in May will have Russia, the world's largest energy producer, building pipelines to export energy directly to China, the world's largest energy importer. There are plans being formed to build a pipeline to India in the future as well.


    Putin is presenting himself as a leader of the Conservative world. Us in the West sometimes forget, the majority of the world's population holds highly conservative views. They see the Liberal Western world and their gay rights, atheism, and non-traditional morality as a sickness and want no part in it. This is a common thread which binds nations like China, India, Russia together.


    The West is heavily indebted, and I won't bother going into the numerous other problems there, they are well known by now. What is more interesting to to hear what some are saying is Russia's nuclear option - to begin accepting other currencies for it's oil. This would challenge the US petro dollar. It's an interesting thesis and I don't know enough about it to know how serious a threat it is. However, Russia is the world's largest oil exporting country. The US dollar's value is directly tied to the petro dollar status.


    Those are some thoughts to ruminate upon, it's a broad topic and I feel I've barely scratched the surface here. I won't write a novel though.


    An interesting view:
    22 Mar 2014, 08:39 PM Reply Like
  • thefuture007
    , contributor
    Comments (33) | Send Message
    You expect the Socialist..etc Socialsts in charge of USA to do something? or Hillary who left Us Soldiers to DIE in Bengazhi,yet to answer for that!! Do anything....seriously.?Go buy some Vodka and side with Diageo....over the whiskey problem vs Jack" Made in America"'ll get more mileage for your Lobbying Bucks,though the Politicians voted otherwise there.Putin moves a Pawn and captures a country,obamma creates AFC,supports Illegal Immigrant Criminals,NSA Spying,IRS Spying,Firing Generals in the Military,Creates Perverted/Gay Unions ,passesout phones/Gas and wants to raise the Minimum wage and Demoralizes the USA...what REAL Americans want this Socialist to do is leave/Retire/Quit... REAL Americans aren't Socialists.And agree,allow the people to Decide what the people want.But I do find it interesting on the conspiracy theory side,How if 90% of the people vote to Secceed..did a Non -Russian group overthrow the government.?hmmm no Theatrics there...Putin moves an Iron horse around to back up his pawn move,great showmanship and play.
    18 Mar 2014, 10:41 AM Reply Like
  • taxman100
    , contributor
    Comments (617) | Send Message
    Russian businessmen who are Russian first, and businessmen second? Many U.S. execs would sell their citizenship if it put more money in their pocket.


    NATO is nothing but the United States Armed Forces and a lot of lazy "relatives" mooching off of the U.S. taxpayer. It is an alliance in search of a war. They are praying in Brussels that Urkraine will ignite into a shooting war.
    18 Mar 2014, 10:57 AM Reply Like
  • Justin Grant
    , contributor
    Comments (158) | Send Message
    Well it certainly is funny watching US administration officials jeering at Russian stocks falling. The average Russian doesn't own stocks, most Russian stocks (in the free float) are held by foreign investors, primarily in the West. I also think Russians, and even I would hope Americans, would put patriotism and the interests of their country over the stock market hitting a new high.
    22 Mar 2014, 08:51 PM Reply Like
  • Sakelaris
    , contributor
    Comments (2649) | Send Message
    The US needs to stay out of this. Crimea has historically been part of Russia.


    As for the issue of Russia forcibly changing a border, that reminds me of how the US under Clinton used force to dismember Yugoslavia. Am I the only one who remembers this?
    19 Mar 2014, 03:59 AM Reply Like
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