4 Mar 2015 17:15

Lukoil's Fedun confident EU will ease sanctions in 2015

LONDON. March 4 (Interfax) - Lukoil Vice President Leonid Fedun expects that the EU will ease sanctions against Russia this year.

So far there are no other options for developing shale oil deposits in Russia to replace Lukoil's joint venture with Total that was disrupted by the sanctions. "Not so far," Fedun said in response to a question.

"But we believe that the policy the government and president are pursuing will begin to tell. And most likely, we will see an easing of the sanctions regime on Europe's part before the year is out," he said.

"We aren't expecting that from America, but at least from Europe: yes. I associate that with the improvement of the situation in Ukraine. Business always wants to hope for the best," Fedun said.