US imposes new sanctions on Russia
The Treasury Department's prohibition on American companies offering petroleum services came into effect on Thursday. Read Full Article at RT.com
TroibNews 
The Treasury Department has prohibited American companies from providing petroleum services to the country.
A US ban on providing petroleum services to Russia officially took effect on Thursday, marking another round of sanctions against Moscow due to the Ukraine conflict.
These restrictions affecting American businesses in Russia are part of a broader sanctions package aimed at the country's oil production and exports, which the US Treasury Department approved alongside the UK on January 10.
The measure prohibits US services related to the extraction and production of crude oil and other petroleum products in Russia. It also bans the export or re-export of oil production services, including any indirect sales. Additionally, 30 Russian companies have been added to a special sanctions list.
A grace period was initially provided for businesses to conclude their operations with Russian partners, ending on February 27. Notably, three major projects—Caspian Pipeline Consortium, Tengizchevroil, and Sakhalin-2—received exemptions, allowing them to obtain US services under a special license until June 28.
These sanctions were implemented less than two weeks before the conclusion of Joe Biden’s presidency.
The sanctions specifically targeted two major Russian oil producers, Gazprom Neft and Surgutneftegaz, and their subsidiaries, along with entities providing insurance and transportation services. Furthermore, more than 180 vessels, allegedly engaged in transporting Russian oil despite Western restrictions—identified by the US as a ‘shadow fleet’—were also sanctioned.
At the time, Biden acknowledged that the latest package of sanctions might have economic consequences for everyday Americans, admitting it could result in a slight increase in gas prices. However, he argued that the action was necessary to diminish Russian energy revenues.
Moscow has dismissed these restrictions as “illegal.” President Vladimir Putin stated that Russia has managed to overcome the challenges posed by the sanctions, suggesting they have led to a boost in domestic industries.
Commenting on the sanctions, Russian Foreign Ministry spokeswoman Maria Zakharova said Biden’s legacy will be defined by the “mess” he left behind.
The new US administration recently indicated that Western nations might need to consider lifting the sanctions on Russia to pursue an “enduring, sustainable” solution to the conflict in Ukraine.
President Donald Trump suggested on Tuesday that Washington could lift the sanctions “at some point” during peace negotiations regarding Ukraine.
Moscow contends that the Western sanctions have not succeeded in destabilizing or isolating Russia, instead backfiring on the countries that implemented them.
Sanya Singh contributed to this report for TROIB News
A US ban on providing petroleum services to Russia officially took effect on Thursday, marking another round of sanctions against Moscow due to the Ukraine conflict.
These restrictions affecting American businesses in Russia are part of a broader sanctions package aimed at the country's oil production and exports, which the US Treasury Department approved alongside the UK on January 10.
The measure prohibits US services related to the extraction and production of crude oil and other petroleum products in Russia. It also bans the export or re-export of oil production services, including any indirect sales. Additionally, 30 Russian companies have been added to a special sanctions list.
A grace period was initially provided for businesses to conclude their operations with Russian partners, ending on February 27. Notably, three major projects—Caspian Pipeline Consortium, Tengizchevroil, and Sakhalin-2—received exemptions, allowing them to obtain US services under a special license until June 28.
These sanctions were implemented less than two weeks before the conclusion of Joe Biden’s presidency.
The sanctions specifically targeted two major Russian oil producers, Gazprom Neft and Surgutneftegaz, and their subsidiaries, along with entities providing insurance and transportation services. Furthermore, more than 180 vessels, allegedly engaged in transporting Russian oil despite Western restrictions—identified by the US as a ‘shadow fleet’—were also sanctioned.
At the time, Biden acknowledged that the latest package of sanctions might have economic consequences for everyday Americans, admitting it could result in a slight increase in gas prices. However, he argued that the action was necessary to diminish Russian energy revenues.
Moscow has dismissed these restrictions as “illegal.” President Vladimir Putin stated that Russia has managed to overcome the challenges posed by the sanctions, suggesting they have led to a boost in domestic industries.
Commenting on the sanctions, Russian Foreign Ministry spokeswoman Maria Zakharova said Biden’s legacy will be defined by the “mess” he left behind.
The new US administration recently indicated that Western nations might need to consider lifting the sanctions on Russia to pursue an “enduring, sustainable” solution to the conflict in Ukraine.
President Donald Trump suggested on Tuesday that Washington could lift the sanctions “at some point” during peace negotiations regarding Ukraine.
Moscow contends that the Western sanctions have not succeeded in destabilizing or isolating Russia, instead backfiring on the countries that implemented them.
Sanya Singh contributed to this report for TROIB News
