Russian state-owned energy firm Rosneft has seen better days. Oil prices are down 50 percent from last year, the ruble is tumbling, and, as Reuters reports, Western sanctions are denying it access to much-needed capital, financing, and technologies it needs to exploit new projects and unconventional reserves:
State-controlled Rosneft has struggled financially under sanctions imposed a year ago over the Ukraine conflict, which have all but cut it off from financing from U.S. and European capital markets. Sanctions rules have also limited Western cooperation in exploring Russia’s Arctic, deep-water and hard-to-recover oil deposits. […]
Rosneft may have to delay development of its …read more
Source: The American Interest
