Biden government impose strict sanctions against Russian oil industry

Biden government impose strict sanctions against Russian oil industry

The bid administration took measures against the Russian energy sector, including the oil industry, which are among the most severe sanctions that have so far been related to moskaus war against the Ukraine were imposed. The aim of these comprehensive measures is to prevent the financing for Russia.

strategic sanctions before changing power

These far -reaching steps were undertaken almost a week before President Joe Biden took office, while the elected President Donald Trump announced that he wanted to meet the Russian President Vladimir Putin. This could also lead to an uncertainty of investors on the energy markets.

strengthening the negotiation position of Kyiv

Senior officials from the US administration said that they wanted to offer Kiev-and the upcoming Trump administration-the best possible basis for negotiation. These officers expressed hope that the next government would maintain and enforce the sanctions, despite the prior skepticism of some Trump employees, regarding the effectiveness of such measures.

targeted measures against Russian oil companies

The new sanctions against "the largest and most important source of income of the Kremlin" affect hundreds of goals, including two of the largest oil companies in Russia: the public stock corporation Gazprom Neft and Surgutneftegas. In addition, almost 200 oil transport ships are targeted that are accused of belonging to the so -called "shadow fleet", which tries to avoid sanctions, as well as oil dealers and energy.

expected financial effects for Russia

"We expect our measures to cost Russia billions every month," said a high official from the administration. The sanctions introduced in coordination with the United Kingdom are part of the Federal Government's more comprehensive approach to support Kiev. On Thursday, the bid administration terminated the Last package of military help for Ukraine worth around 500 million dollar an.

negotiations on peace in Ukraine

"These sanctions help to put Ukraine able to work together with the upcoming administration to find a fair peace," said another high -ranking official from the administration. On Thursday, Trump repeated his wish to end the war in Ukraine and added that Putin "wishes a meeting and we are preparing it.

monitoring of sanctions and their implementation

The first high-ranking civil servant recognized that it was "completely due to the Trump team" to determine whether, when and under what conditions they could overturn sanctions. The effect of the sanctions will largely depend on the enforcement, with an official stated: "We have to encounter any circumvention with a countermeasure, and that requires political will."

Russia's efforts to avoid sanctions

"Russia will make all efforts to avoid these sanctions. This is inevitable," said the first official. "But the bypass is not free. Russia has to constantly adapt its supply chains and reorientation, which brings in efficiency, uncertainty and complexity. Our sanctions are like sand grains that lie down in the gears of Russia's war machinery."

not targeted sanctions against third -country countries

The measures from Friday do not contain secondary sanctions against specific countries. China and India are among the largest importers of Russian oil during the Ukraine War. The government officials stated that they had been waiting for the introduction of sanctions until the last days of administration, partly due to the state of the global oil market and the possible effects on the US economy.

effects on the global oil market

The invasion of Russia at the beginning of 2022 at the beginning of 2022 fueled fears of considerable delivery bottlenecks of one of the leading producers worldwide. The oil price rose up to $ 130 per barrel in March 2022, which led to inflation in the US economy and record-high petrol prices. The first high -ranking civil servant explained that the world's stocks were scarce during the majority of the war and the risk of a lack of offer, which probably increases the income of Russia and the prices at the petrol stations for families in the USA and worldwide.

Current location on the oil market

Now, according to the official, both oil prices and the US economy are "in a fundamentally better position". The United States produce more oil than every nation in world history and force the Opec to reduce production. The oil prices were relatively stable, partly due to the record-breaking US production.

Nevertheless, oil prices rose strongly on Friday morning, even before the official sanctions were announced, with some retailers suspected that the rumors about sanctions were responsible. US oil jumped by 4 % to almost $ 77 per barrel, while Brent oil, the worldwide benchmark, added 3.7 % to around $ 80 per barrel.

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