Sunday, September 21, 2014

Russia will seek new technologies outside the United … – Russia Beyond The Headlines France

  Prime Minister Dmitry Medvedev instructed sales representatives
  Russia abroad to seek new technologies
 Outside the United States and the European Union. “We must turn the
  situation with the sanctions to our advantage and find new
 growth opportunities. It is a kind of protectionism which
 we did we would have never dared to use without being put in a
 such a situation, “said Russian Prime Minister Forum
 investment of Sochi. He explained, in particular, that one of the axes
 development in the context of the sanctions was to articulate
 around the creation of domestic technologies, as well as around the
 search for alternative suppliers overseas. “I have instructed our
 commercial representatives abroad to seek new
 of high-tech equipment “
suppliers, added Dmitri
 Medvedev. He also believes that Russian companies are able
 create technologies on site. For this, Russia will create
 including a development fund industry which will
 main objective of supporting medium-sized enterprises interested in
 pre-bank financing. The government would provide him up to 18
  billion rubles (367 million euros). “In all
 all difficulties and problems, there is always a window
 opportunity, we must seize it “
, said Dmitry Medvedev.

Impact of sanctions

  new sanctions against Russia, imposed by the EU and by
 United States on September 14, not only reach more companies
 oil Rosneft and Gazprom Neft public, but also
 private companies Lukoil and Surgutnefteaz. The Ministry of Finance
 American said the ban on the sale of technology and
 services applied to projects of deepwater production in
 offshore in the Arctic and shale, in Russia and in the waters
 Russians, if they show a “potential oil extraction.” The
 American and European measures restrict the sale and
 re-export of products, services and technologies for oil and
 shale companies affected by the sanctions.

“The last train of American sanctions’s main objective is to
 show that no company can feel safe. If before, the
 restrictions applied only to companies and credit agencies
 closely linked to the state, now, private companies are
 also under pressure, “
said Anton Soroko, analyst holding
 Investment FINAM. He explains that this contradicts some
  extent the statements of Western countries, because the penalties are
 presented as a weapon against the political position of Russia. In
 Accordingly, these measures should exert pressure on the state, not
  on private companies, says Soroko.

 is traditionally considered a private business model
 Russian – a large free float, low political activity, much
 transparency, no state involvement, etc. “
 the lead analyst Ilya Balakirev UFS IC. He explains that,
 Moreover, the company is developing the platform in the Caspian Sea and
 announced a series of projects in areas of difficult access
 partnership with European companies. “The Company shall,
 may waive these projects, but for this large group, it
 is only negligible production volumes “
says Balakirev.

Magnitude of impact

  Experts believe that the ban on exports of technologies
 primarily affect Rosneft which controls 44 trays with
 reserves of 42 million tonnes of oil equivalent. The company
 already started operation at 23 of these plates. In 2011, Rosneft
 signed an agreement with ExxonMobil on the American mining
 oil in the Kara Sea and Black Sea. According to the information
  Bloomberg, ExxonMobil could now suspend
 exploration well Universitetskaya-1 in the Kara Sea. In this
 If, under the terms of the agreement, Rosneft will repay the amount
 invested by the American company in prospecting (up to 2.5
 billion). Moreover, the reserves accumulated deposits
 Lukoil discovered in the Caspian Sea amounted to 630 million
 tonnes of oil equivalent. In addition, in 2014, the company signed a
 agreement with the French Total.

Anton Soroko group recalls
 however, that the penalties introduced included a precision
 size: they only apply to new contracts and are
 not be effective if the agreements have been signed before. Thus, it
 believes that we can not say that Russian companies were private
 technology: the restrictions do not apply to agreements
 concluded before. “Russian oil and gas companies
 are a little better than other economic sectors – this is
 mainly due to the fact that exports of resources
 Russian energy are of great importance for our partners
 Westerners. So they do not dare to introduce sanctions
 come restrict the current activity of the companies’
 Anton Soroko.

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