Sechin announced the destruction of the foundations of law that developed after World War II

Sanctions destroy the right to protect property, conduct business and defend in court, the head of Rosneft believes. According to him, the restrictions threaten the financial and industrial sectors, and as a result, the global market 17/756555388609179.jpg” alt=”Sechin announced the destruction of the foundations of law established after World War II” />

Igor Sechin

Sanctions have destroyed the foundations of law that have developed in the world following the results of the Second World War, — to the protection of property, freedom of doing business, judicial protection, etc. This was stated by the head of Rosneft; Igor Sechin at the St. Petersburg International Economic Forum (SPIEF).

«Principle of the rule of law <…> is the foundation of any modern constitutional democracy. The destruction of this fundamental principle, the application of sanctions by a narrow group of countries, led to the destruction of the basic foundations of the legal system, — he said (quote from RIA Novosti).


Sanctions threaten the institution of contractual obligations, destroy the judicial and legal system, the financial, transport and industrial sectors, and as a result— global market, says Sechin.

According to the head of Rosneft, the global economic crisis is not the result of sanctions, but is exacerbated by restrictive measures. “Back in 2018, we talked about the fact that the policy of sanctions and ultimatums in the hydrocarbon markets would lead to the appearance of a permanent “sanction premium” in the price of oil, and noted the risks of new price records, & mdash; he added.

The United States, according to Sechin, resorts to sanctions without reason and considers them “some kind of magic wand”; to achieve political and economic goals. He said that under pressure from the United States, Europe is refusing gas from Russia and is turning to other countries that cannot compete with it on price. According to the head of Rosneft, the European Union is committing “energy suicide”, which will have long-term consequences.

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Western countries began to impose sanctions against Russia after President Vladimir Putin announced a military operation in Ukraine. Since the end of February, the European Union has adopted six packages of measures against Moscow. These are a partial embargo on the supply of Russian oil, a freezing of assets of the Central Bank, a ban on financial transactions, sectoral restrictions and sanctions against a number of individuals. The United States adopted several rounds of restrictions, within which it banned the import of oil and gas from Russia.

Sechin was included in the sanctions lists of the European Union and Great Britain. The United States imposed restrictions against the head of “Rosneft” in 2014.

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