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Tougher US sanctions will not affect Russia's crude production, energy minister says

It is important that only new projects to be developed starting end-January 2018 will be concerned, Alexander Novak said

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MOSCOW, November 2. /TASS/. Tougher US sanctions against Russia’s energy sector will not affect the country’s crude oil production, Energy Minister Alexander Novak said in an interview aired by the Rossiya-24 TV news channel on Thursday.

"It should be noted that they are not new sanctions, they have been imposed earlier. They have much to do with third countries, foreign projects with the Russian share above 35%. It is important that only new projects to be developed starting end-January 2018 will be concerned," he said, adding that "on the whole, it is not going to affect Russia’s production."

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Oil & Gas Alexander Novak Sanctions

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