The European Union (EU) and United States levied more sanctions on Russia today in an effort to hamper the country’s already struggling economy. The latest sanctions primarily target Russia’s oil industry and military equipment. Supermajors participating in projects with Russia’s oil giants like Transeft, Rosneft and Gazprom are barred from investing in any large scale projects. Its gas industry, however, was spared any sanctions due to the EU’s need for imported energy.

EU Pressing for U.S. Exports

The mutually beneficial gas trade betwe...

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