Washington Sanctions Widely Russia's Energy Sector

1/10/2025 3:05:33 PM

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Jan 10 (KUNA) -- The United States is imposing sanctions on Friday on more than 200 entities and individuals involved in Russia's energy sector and identifying more than 180 vessels as blocked property.
"This wide-ranging, robust action will further constrain revenues from Russia' energy resources and degrades Putin's ability to fund his illegal war against Ukraine," Secretary of State Antony Blinken said in a statement.
Of these targets, the Department of State is sanctioning nearly 80 entities and individuals, including those engaged in the active production and export of liquefied natural gas (LNG) from Russia, he added.
Others include those attempting to expand Russia's oil production capacity; those providing support to the U.S.-sanctioned Arctic LNG 2 project; those involved in Russia's metals and mining sector; and senior officials of State Atomic Energy Corporation Rosatom, he noted.
The Department of the Treasury is concurrently sanctioning more than 150 entities and individuals, including major Russian oil producers Gazprom Neft and Surgutneftegas, Russian insurance companies, and shadow fleet vessels.
The Treasury is also identifying the energy sector of the Russian Federation, which restricts further Putin's ability to generate revenue and fund Russia's malign conduct.
The Treasury also issued a new determination prohibiting the provision of certain services to persons in the Russian Federation, thereby cutting off Russia's access to U.S. services related to the extraction and production of crude oil and other petroleum products, the statement pointed out.
The United Kingdom joins the US today in targeting the Russian energy sector as "we continue to use all available tools together with G7 and other likeminded partners to curb Russia's ability to fund its illegal war against Ukraine.
"We stand in solidarity with Ukrainians in defending their homeland from Russia's aggression," he said.
Meanwhile, the U.S. Department of the Treasury took sweeping action to fulfill the G7 commitment to reduce Russian revenues from energy, including blocking two major Russian oil producers.
Today's actions also impose sanctions on an unprecedented number of oil-carrying vessels, many of which are part of the "shadow fleet," opaque traders of Russian oil, Russia-based oilfield service providers, and Russian energy officials, Department of the Treasury said in a statement.
"The United States is taking sweeping action against Russia's key source of revenue for funding its brutal and illegal war against Ukraine," said Secretary of the Treasury Janet L. Yellen.
"This action builds on, and strengthens, our focus since the beginning of the war on disrupting the Kremlin's energy revenues, including through the G7+ price cap launched in 2022. With today's actions, we are ratcheting up the sanctions risk associated with Russia's oil trade, including shipping and financial facilitation in support of Russia's oil exports." (end)
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