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

|About: Rosneft Oil Company OJSC (RNFTF)|By:, SA News Editor

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.