The United States has announced a comprehensive sanctions package against Russia. This package targets over 400 individuals and organizations in Russia's energy sector that directly or indirectly fund the Russian military, as reported by the head of the Office of the President of Ukraine, Andriy Yermak.
"There will be a strong blow to the Russian economy," he previously announced.
As a result, new U.S. sanctions have affected Russian oil, gas extraction, drilling, and insurance companies, as well as their leadership:
- "Gazprom Neft",
- "Surgutneftegaz",
- "Ingosstrakh",
- "AlfaStrakhovanie",
- more than 20 oil service companies,
- CEO of "Gazprom Neft" Alexander Dyukov,
- CEO of LUKOIL Vadim Vorobyov,
- CEO of "Zarubezhneft" Sergey Kudryashov,
- CEO of "Tatneft" Nail Maganov,
- CEO of "Bashneft" Vladimir Chernov,
- General Director of "Rosatom" Alexey Likhachev.
New U.S. Sanctions Against Russia - Key Points
According to Yermak, the new sanctions package identifies the entire energy sector of the Russian economy as "malicious activity." This will allow for sanctions to be imposed on any individual or company operating in this field, he explained.
He also mentioned that special emphasis in the sanctions is placed on Russia's "shadow fleet" - the newly introduced restrictions will hinder Russia's ability to evade the "price caps" on oil implemented by the G7 countries:
"The sanctions lists include 184 tankers. This decision is complemented by closing access for the remaining vessels of the company 'Sovcomflot', which addresses gaps in the international sanctions system."
Among other important aspects of this package, Yermak noted the ban on providing services in oil extraction and transportation; the introduction of restrictions on LNG terminals in Russia; and recognition of risks for international financial institutions collaborating with Russia or its military structures.
The U.S. expects that the new restrictions will cost Russia "billions of dollars monthly," as they will complicate evasion of sanctions.
As previously reported by the Financial Times, the EU fears that the elected U.S. President Donald Trump may lift sanctions against Russia. European Union representatives are concerned that Trump might reverse Biden's decisions without considering the consequences for international partners.