Saras, Rosneft Joint Venture Talks Delayed on Politics
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Saras SpA, an Italian oil refiner, delayed plans to set up a trading joint venture with its Russian partner OAO Rosneft because of worsening relations between Europe and President Vladimir Putin’s government.
“In recent weeks, activities with Rosneft have been put on hold because of political events,” Dario Scaffardi, executive vice president and general manager, said today on a conference call. The “activities” relate to the JV as well as to commercial initiatives.