VP/HR — Implementation of sanctions against Russia

12.3.2018

Question for written answer E-001509-18
to the Commission (Vice-President/High Representative)
Rule 130
Marietje Schaake (ALDE) , Krišjānis Kariņš (PPE) , Miroslav Poche (S&D) , Pavel Telička (ALDE) , Rebecca Harms (Verts/ALE) , Sophia in 't Veld (ALDE) , Monica Macovei (ECR) , Molly Scott Cato (Verts/ALE) , Nils Torvalds (ALDE) , Morten Helveg Petersen (ALDE) , Svetoslav Hristov Malinov (PPE) , Ramón Luis Valcárcel Siso (PPE) , Tunne Kelam (PPE) , Nessa Childers (S&D) , Petras Auštrevičius (ALDE) , Hans-Olaf Henkel (ECR) , Helga Trüpel (Verts/ALE) , Jasenko Selimovic (ALDE) , Valentinas Mazuronis (ALDE) , Jozo Radoš (ALDE) , Dariusz Rosati (PPE) , Boris Zala (S&D) , Ana Gomes (S&D) , Tibor Szanyi (S&D) , Ramona Nicole Mănescu (PPE) , Michaela Šojdrová (PPE) , Milan Zver (PPE) , Monika Beňová (S&D) , Indrek Tarand (Verts/ALE) , María Teresa Giménez Barbat (ALDE) , Robert Rochefort (ALDE)

In November 2017, the Russian company EN+ registered on the London Stock Exchange (LSE)[1].

EN+ does not explicitly fall under the EU sanctions regime imposed following Russia’s illegal annexation of Crimea.

The company is owned by Oleg Deripaska, a close business partner of President Putin and director of Basic Element, one of the largest industrial groups in Russia. Basic Element has a 47% stake in Rusal, one of the largest aluminium-producing companies in the world.

EN+ has indicated that a portion of the funds it raises on the LSE will be used to repay its debt to VTB, a Russian state-owned bank that is subject to EU sanctions.

1. Is the VP/HR aware that EN+ entered a European stock exchange last year, becoming the first Russian company to do so since the imposition of EU sanctions?

2. How does the VP/HR assess EN+’s specific situation in relation to the EU sanctions that limit access to EU primary and secondary capital markets for certain Russian banks and companies, impose a ban on trade in arms and curtail Russian access to certain sensitive technologies and services that can be used for oil production and exploration?

3. Can the VP/HR clarify whether EU sanctions can in some cases also apply indirectly, and can she assess whether this could be the case for EN+?

• [1] https://uk.reuters.com/article/us-en-ipo-pricing/russias-en-prices-ipo-at-14-per-gdr-valued-at-8-billion-idUKKBN1D30N0