Statement by the Board of Directors

The board of directors of Rusneftegaz would like to express its bemusement at the announcement today by the British Treasury, which will fundamentally have no impact on our operations and appears to serve no obvious practical purpose. Ultimately, our organization does not conduct any business in the United Kingdom, nor do we hold any assets within its jurisdiction, and thus any punitive actions against us should be considered futile. If any other state or supragovernmental body enacts similar measures in the future, we will not hesitate to protect our interests accordingly. Whilst it is the prerogative of each nation to execute a trade policy in accordance with their own economic priorities, we have no intention of allowing any of our fundamental property rights to be violated under any circumstances. Any inquiries from media organizations pertaining to this matter must be directed to our press office for any further response at the earliest convenience. Likewise, queries from interested parties with regard to what has been announced may be sent via the conventional channels of telephone or email as soon as possible. Due to the significant volume of messages we are receiving as a result of these developments, we require the cooperation and understanding of those submitting questions to us at this present time.

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