Newton's Third Law - Rosneft proposes package of retaliatory measures to Western sanctions.

Newton's Third Law - Rosneft proposes package of retaliatory measures to Western sanctions.(rapsinews).

Russia’s largest oil producer Rosneft, which is on the Western sanctions list, has proposed a package of retaliatory measures, Kommersant newspaper reoprts on Wednesday, citing federal officials.

The measures include a ban on the repayment of oil and gas companies’ loans to European and US banks without the approval of the Bank of Russia; the possible seizure of property belonging to the United States, the EU and their citizens in Russia as an interim measure to ensure the fulfilment of contracts; as well as a moratorium on the retrieval of the oil and gas equipment delivered to Russia, the use of which is prohibited in Russian projects by the sanctions.

According to the newspaper, other proposed measures include a 100% prepayment for gas deliveries to the EU, the suspension of Gazprom’s South Stream project, access to Gazprom’s pipeline for independent gas producers in East Siberia and the Russian far East, restrictions on the cooperative use of Russian-made modules for the International Space Station, and a ban on the storage of radioactive waste from the EU and the United States.

The authors of the proposals believe that the 100% prepayment provision, “which cannot be honored without large floating capital, would improve Gazprom’s situation and worsen the situation for European gas buyers,” one of the newspaper’s sources said, citing Rosneft’s document.

Rosneft and billionaire Arkady Rotenberg, followed by Sberbank and VTB Bank, filed suits with the EU Court of Justice over the sanctions that had been imposed on them.

According to Kommersant’ sources, the document prepared by Rosneft to support the real economy and to take response measures against the countries that have approved anti-Russian sanctions has been sent to President Putin and is being analyzed by the related ministries. Read the full story here.