The US government on Wednesday announced new sanctions against Russia over the events in Ukraine. The penalties will apply to individuals and companies both in Russia and Ukraine.
The third package of US sanctions vs Russia imposes limitations on economic sectors. The blacklist newcomers are VEB, Gazprombank, Rosneft oil and gas major, the Kalashnikov weapon consortium, the Uralvagonzavod mechanical engineering company, Novatek natural gas producer and others.
Difficulties, which Russian companies will experience in making borrowings abroad, threatens the implementation of large-scale projects and this may inflict serious damage on Russian oil and gas producers, the expert said.
The fresh sanctions are not critical but further penalties may be considerably more serious, he said.
“As for the oil and gas industry, Russia can revise the US companies’ participation in developing Russian hydrocarbon resources,” the expert said.
“In this case, we’ll both respond to the US and give a clear signal to Europeans that their consent to join US sanctions may affect their business as well,” Vygon said, adding that once US companies fully felt the impact of Russia’s retaliatory sanctions, they would popularly explain to the US administration that economic interests are more important than political ambitions and would stop the sanction process.
If Europeans conduct a more reasonable policy, then Russia should create preferences for their companies and favorable investment conditions for them, the expert said.
For example, Russia may admit them to the development of its strategic deposits and actively create joint ventures and consortiums with them, he added.