OREANDA-NEWS. July 15, 2013. Rosneft Oil Company, OJSC, put Sviaz-Bank on its list of accredited banks that can issue guarantees the company accepts as security for liabilities in transactions with its business partners.

A limit on guaranteed transactions has been set at USD50 million within the framework of the general limit fixed by Vnesheconombank that is Sviaz-Bank’s shareholder.

Rosneft is the Russian oil industry’s leader and one of the world’s biggest public oil and gas companies. Rosneft’s core activities include oil and gas exploration and development, manufacture of oil products and petrochemical products, and sale of its products. The company is listed among Russia’s strategic businesses. ROSNEFTEGAZ OJSC fully owned by the government is Rosneft’s majority shareholder (69.50% of its shares of stock).