St. Petersburg innovators sharpen laser correlation spectroscopy for medical research useScience & Space October 26, 12:38
Fifth Varshavyanka submarine joins Russia’s NavyMilitary & Defense October 26, 12:11
Russian Baltic Fleet frigate arrives in Cuba on visitMilitary & Defense October 26, 11:57
Air Defense drills involving various aircraft kick off in four CIS statesMilitary & Defense October 26, 11:34
MP Savchenko arrives in Moscow to attend hearing on Ukrainian nationalistsWorld October 26, 11:03
Contact Group’s subgroup meetings kick off in MinskWorld October 26, 11:02
Bulgaria and Russia sign agreement to settle debt on Belene NPP project — ministerBusiness & Economy October 26, 10:38
Russia honored all commitments on S-300 supplies to Tehran — ambassadorWorld October 26, 9:04
Kyrgyz president signs decree on government’s resignationWorld October 26, 8:47
In July, the European Union introduced licensing for certain commodities and technologies used in the oil industry. This was followed in July by a US ban on access to critical technologies in the oil and gas sector.In September, the US and the EU imposed targeted sanctions against Russia’s major oil and gas companies, limiting their access to the capital market.
In addition to a longer development time, the sanctions against Russia may also cause companies to stop operations because of the shortage of components and spare parts and halt the production of Russian equipment due to licensing or corporate restrictions, the ministry said.
“Three rounds of Western sanctions imposed against the Russian fuel and energy sector create clear risks but at the same time allow us to change the situation for Russian manufacturers and suppliers of equipment and companies that provide services,” Deputy Minister of Industry and Trade Andrei Dutov said.