: :inin Kyiv (EET)

Obama May Have Just Dealt A Crushing Blow To Russia’s Oil Exploration


New U.S. sanctions handed down on Friday are designed to effectively “shut off” Russian oil conglomerates from oil exploration projects, U.S. officials said, in a move aimed squarely at Russia’s $425 billion-a-year petroleum industry. The measures are “designed to effectively shut down this type of oil exploration and production activity by depriving these Russian companies of the goods, technology and services that they need to do this work,” a senior Obama administration official said Friday. The official added the intention of the new sanctions is to ensure that “we have effectively shut off the capacity” of Russian oil companies …read more

Source: Business Insider

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