Rosneft CEO says Russian business may turn elsewhere over sanctions: report

MOSCOW (Reuters) - Igor Sechin, chief executive officer of Russia's top oil producer Rosneft, said on Tuesday Russian business could turn elsewhere in the case of western sanctions over Ukraine, Prime news agency reported on Tuesday.

Sechin said he may buy more Russian shares in Rosneft to capitalize on the "market environment" caused by possible sanctions. Russia's stock market has plummeted since President Vladimir Putin signaled he would not back down over Ukraine.

Sechin begins a trip to Asia this week as Russia seeks closer ties with the East amid a growing rift with the United States and European Union over Russia's involvement in Ukraine.

(Reporting by Vladimir Soldatkin, editing by Elizabeth Piper)