Russia’s Gazprom seeks support from EU clients ahead of sanctions - paper

Russian gas giant Gazprom is negotiating discounts with European clients in exchange for support ahead of pending E.U. sanctions over the annexation of the Ukrainian peninsula of Crimea, Vedomosti business newspaper reported on March 17, citing two sources close to the talks, Prime has said.

Paolo Scaroni, CEO of one of the closest Gazprom’s partners in Europe, Eni, told local newspaper Sole 24 Ore that his company hopes to amend the current contract with Gazprom by May. The take-or-pay condition details will be changed, he said. An official at another partner, E. On., said that Gazprom regularly adjusts prices. Gazprom declined to comment.

Russia’s Kommersant business newspaper reported that the CEOs of Gazprom and oil major Rosneft Alexei Miller and Igor Sechin will be denied U.S. and E.U. visas, and their assets in these countries will possibly be arrested.

The sanctions concern only the CEOs of the Russian fuel mammoths so far but Brussels and Washington may go as far as refusing to clear the purchase of Morgan Stanley’s oil trading business by Rosneft, sources cited by media said.

Copyright: Prime, 2014