Russia's OAO Novatek released a statement July 17 decrying its recent induction into the list of U.S. sanctions imposed on Russia over Ukraine. It said it has no business activities nor political or economic processes taking place in Ukraine, and its inclusion on the list was "not justified." Moreover, the statement continued by assuring that their insertion into U.S. sanctions will not impede its operations nor affect its assets. It characterized Novatek's financial position as "stable."
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