Eni warns investors about sanction risks

Italian oil and gas giant Eni SpA for the first time has expressed concerns because of sanctions, imposed by the EU against Russia - the company has extended its list of risks in several points. As Eni indicates in its annual report for 2014, the company will incur substantial losses if the EU impose sanctions on the purchase of Russian gas by the EU member states. The Council of the EU has no plans to impose sanctions on Russian fuel, the Izvestiya’s sources in the European Parliament say.
 
"Further sanctions that may be imposed on Russia, citizens or companies by the world community, for example, prescribing restrictions on purchase of gas by European companies or restricting business ties with counterparties, could adversely affect the business of Eni, results of its operations and cash flow, - the company writes. - In addition, the escalation of the crisis and the imposed sanctions may cause significant widespread disruptions in energy supply and trade, which could have a negative effect on the business of the corporation, its financial performance, its operating results and future projects".
 
At the same time the Russian Ministry of Energy recognizes the fact that objectively constraints in the procurement of Russian gas are possible in the near future.
 

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