Europe's economy has become the most affected by sanctions and has lost the basis of its competitiveness, Rosneft CEO Igor Sechin said during his speech at the Doha Forum.

«In reality, European economy has become the main victim of sanctions, having lost the basis of its competitiveness.  Developments in Europe over the past few years are conclusions provoking. In the last two years alone, industrial production has fallen by 5%»,- estimates.

The head of Rosneft recalled that the unilateral illegal implementation of sanctions by the West affected about 40% of the world's hydrocarbon resource base. «Thus, illegal unilateral Western sanctions affected about 40% of the global hydrocarbon resource base. The targets of these sanctions are not only Iran, Venezuela and Russia, but primarily Europe, which has lost stable and relatively cheap supplies, and also Asia-Pacific growing markets, which are facing limitations on their economic needs»,- Igor Sechin emphasized.

«I believe it is not a secret for intellectual politicians that Brexit was synchronized with the U.S. actions to weaken the economy of the European Union», - the Rosneft CEO said.

«Just like in the biblical story, I would like to ask a question: “When did Noah build his ark?”. The answer is simple: “Before the flood.” This is exactly what Great Britain did, which timely rushed away from Europe going under water»,- Igor Sechin said.

Rosneft Information Division
Rosneft Oil Company
December 7, 2024