Russia says Western sanctions would not hinder development of LNG sector
(MENAFN) Russian Deputy energy Minister Pavel Sorokin stated on Wednesday that Western sanctions would not hinder the development of Russia’s liquefied natural gas (LNG) sector. According to a news agency report, Sorokin made these remarks at an economic forum in Vladivostok, located in Russia's Far East. He highlighted that global demand for LNG is projected to increase significantly in the coming years, potentially reaching between 580 million and 600 million tons annually. Despite the sanctions, Sorokin expressed confidence that Russia would continue advancing its LNG industry to meet this growing global demand.
Sorokin’s comments come amid new sanctions imposed by Washington, which targeted 400 entities and individuals both in Russia and abroad. These sanctions include measures against around 60 defense technology companies whose products and services are believed to be instrumental in supporting Russia’s ongoing military efforts in Ukraine. The US government has emphasized that these new sanctions are part of its broader strategy to pressure Russia economically and technologically, aiming to disrupt sectors that contribute to the country's war capabilities.
US Assistant Treasury Secretary Wally Adeyemo reinforced the reasoning behind the latest round of sanctions. He noted that Russia has essentially mobilized its economy in service of the Kremlin's military-industrial complex, using various industries to bolster its defense infrastructure. Adeyemo underscored that by targeting these sectors, the sanctions aim to weaken the foundations supporting Russia's military operations, particularly in its war effort in Ukraine.
In a statement carried by a French news agency, Adeyemo elaborated on the purpose of the Treasury Department's actions, explaining that they align with the commitments made by US President Joe Biden and other G7 leaders. These measures are designed to disrupt Russia’s supply chains and undermine its ability to sustain its military initiatives. By hitting key defense-related companies, the US and its allies hope to cut off vital resources that enable Russia to continue its military campaign.
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