"The information provided in this article is not factual and aims to harm the industry market competition. Rosneft does not supply North Korea and does not conduct any commercial activity in that country," the company said in a statement.
"Publishing information about Rosneft's involvement in supplies of oil products to North Korea is a provocation. The Company will apply to the court for the protection of its rights and business reputation," it added.
Yonhap reported that North Korean imports of petroleum products from Russia increased by 16 percent year-on-year in 2019 to about $24.8 million. According to the agency, these oil products were produced by two Russian companies, Rosneft and Gazprom.
The sanctions target North Korea's exports of natural resources, such as coal, imports of weapons, oil, petroleum products and any financial and material support that could contribute to the development of the country's missile or nuclear programs.