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Sechin Buying Up Shares Of Rosneft

Rosneft Chief Executive Officer Igor Sechin speaks during the Japan-Russia investment forum in Tokyo, March 19, 2014
The head of Russia's largest oil company, Rosneft, says he and other top officials are purchasing shares of the company after share prices fell.

Igor Sechin said during a visit to Japan on March 19 that "as a result of market volatility, linked with the situation in Ukraine, the price of Rosneft shares fell."

Sechin said he and top managers at Rosneft had purchased an unspecified number of shares since.

"Businessmen should try to take certain advantage of every situation," Sechin said, adding he was encouraging Japanese partners to purchase Rosneft shares also.

Sechin and at least six top managers at Rosneft purchased shares in the company last August, as well.

Sechin is in Asia to expand Rosneft's sales there as Western countries impose sanctions on Russia over the situation in Ukraine.

Based on reporting by ITAR-TASS and "International Business Times"