The transaction, signed in March 2014, is due to be completed today.
Last year, RWE agreed to sell DEA oil and gas, including 12 fields in the UK North Sea, to Fridman’s LetterOne .
The UK Department of Energy and Climate Change (DECC) has said that it would not provide a comfort letter for the change of control of the RWE DEA’s UK business.
Referring to the trade restrictions being imposed by the US and Europe on Russia, the DECC said that the sanctions would result in serious health and safety and environmental risks.
A statement said that the UK Secretary of State has raised concerns with the respective companies about the effect that possible future sanctions imposed on LetterOne may have on the continued operation of these 12 fields and the serious health and safety and environmental risks that may result.
"The companies have made a proposal designed to alleviate those concerns …. The Secretary of State has decided that the proposal does not adequately and surely alleviate those concerns," it added.
RWE is planning to re-acquire the firm if sanctions are imposed on the buyer within the first year after of the completion of the transaction.
