The U.S.-EU sanctions have specifically targeted Russian oil and defence companiesThe United States does not see violation of any U.S.-EU sanctions in the recent deal between India’s Essar Oil and the Russian oil giant Rosneft, in which the Russian government has a majority stake. “I don’t think we see any violation of any U.S.-EU sanctions stemming from this deal,” State Department spokesperson Mark Toner said on Wednesday. These sanctions have specifically targeted Russian oil and defence companies and Rosneft is one of the five energy companies under U.S. and EU sanctions. However, most of these sanctions are primary sanctions, which are applicable to companies and entities in the U.S. and EU. Sanctions on Rosneft are only primary in all probability, and hence, the State Department’s view that the Essar deal does not violate them.

Source: The Hindu October 19, 2016 18:22 UTC