The Russian companies targeted by U.S. sanctions include the two largest oil companies, Gazprom Neft and Surgutneftegaz, but not the largest oil producer Rosneft.
The list also includes 183 ships that are part of a “shadow fleet” involved in exporting Russian oil, as well as financial and insurance institutions involved in handling oil and gas transactions.
The restrictions are aimed at preventing the purchase of Russian oil and gas from major companies for dollars. The sanctions were introduced in conjunction with the UK, which also punished Gazprom Neft and Surgutneftegaz.
Ukrainian President Volodymyr Zelenskiy commented on the White House’s decision. “These sanctions will seriously damage the financial foundations of Russia’s war machine and disrupt the entire supply chain,” the politician wrote on social media.
The United States announced sanctions against Russia. Losses reach billions of dollars
Treasury Secretary Janet Yellen said in a statement that “extensive action is being taken against Russia’s main source of revenue that funds its brutal and illegal war with Ukraine.” “Today’s actions increase sanctions risks related to oil trade with Russia, including transportation and financial operations for oil exports from Russia,” he added.
The State Department also announced sanctions blocking two ongoing LNG projects and entities in third countries that support energy exports from Russia. The new restrictions will be the toughest ever introduced in the energy sector and will cost Russia “billions of dollars every month,” as US government representatives said at a press conference ahead of the sanctions announcement. It will take a while.
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It was communicated that the effectiveness of sanctions largely depends on their implementation, which is the responsibility of the next administration. It added that this measure is aimed at giving the new team additional bargaining chips in terms of negotiations with Russia. Future National Security Adviser Mike Walz has advocated for such sanctions in the past.
White House officials say these sanctions were not imposed sooner due to concerns about rising oil prices, which they say will only ultimately help Russia’s finances. As the regime claims, the situation is different now, oil supplies are increasing, and Russia’s competitors in the market can fill the gap in the market. They also predict that sanctions will accelerate the deterioration of Russia’s economic situation.
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