The latest U.S. and EU sanctions against Russia will sever the closest area of economic cooperation between Russia and the West: the energy sector.
New sanctions unveiled last Friday against Russia target its banks, energy firms, and defense companies.
These sanctions will cut off some of Russia’s largest companies from accessing European capital markets as well as foreign technologies and services. They are necessary “due to continued Russian efforts to destabilize eastern Ukraine,” according to a statement from the Department of the Treasury.
Russia’s biggest industry is its oil and gas sector, and the latest round of sanctions deal a strong blow to …read more
Source: The Epoch Times
