MOSCOW, May 22 (RIA Novosti) – Energy companies Rosneft and Russian Grids have said they can dispense with Western, and particularly American, equipment and technologies in case new sanctions are applied against Russia in the form of high-tech supply constraints.
First Vice President of Rosneft Eric Liron told reporters at the St. Petersburg Economic Forum (SPIEF) that Rosneft does not feel any pressure from the sanctions, as the equipment can be found anywhere.
Russian Grids CEO Oleg Budargin told RIA Novosti that a possible ban on the import of high-tech power equipment will not affect the company's projects, since Russian manufacturers can meet their demand.
"I do not see any problems in either financial provision, or the equipment," Budargin said.
There will also be no problems with electricity distribution. The company has plans for cooperation, in particular with Armenia, Georgia and Iran, Budargin noted.
Members of the European Parliament have urged limiting cooperation with Russian energy companies, including halting construction of the South Stream project, which is planned to deliver Russian natural gas to Europe via a route bypassing Ukraine. The resolution came as a voluntary recommendation.
The EU has said it has a three-stage sanctions process. The third stage, not yet reached, would be broad economic sanctions against entire sectors of the Russian economy.
Moscow has repeatedly stated that the language of sanctions is “inappropriate and counterproductive” and warned its Western partners about the “boomerang effect” that sanctions would have.
