Released September 16, 2014 | ISTANBUL
en
Researched by Industrial Info Resources (Sugar Land, Texas)--The European Union and U.S. have imposed new economic sanctions on Russia, in an effort to curb Moscow's destabilization efforts in Ukraine. According to an EU statement, the sanctions will affect Russia's energy, defense and finance sectors.
Under the EU sanctions, Russia's top oil producers and pipeline operators, including OAO Rosneft (LON:ROSN) (Moscow, Russia), OAO Transneft (MICEX:TRNFP) (Moscow) and OAO Gazprom Neft (MCX:SIBN) (St. Petersburg, Russia), will not be allowed to raise capital or borrow on European markets. The EU sanctions did not include the Russian state-controlled gas producer OAO Gazprom (PINK:OGAZPY) (Moscow), which is the biggest gas supplier to Europe.
The action also included financial sanctions against five major Russian state-owned banks. The EU also has imposed restrictions on the provision of loans and investment services for five Russian banks: Sberbank, VTB, Gazprombank, Vnesheconombank (VEB) and Rosselkhozbank.
The EU extended the same restrictions to three major Russian defense manufacturers: UralVagonZavod (UVZ), Oboronprom and United Aircraft Corporation (UAC).
The ban on exporting dual-use goods and technology for military use in Russia has been extended to include a list of nine mixed defense companies that must not receive dual-use goods from the EU: the Sirius Concern, Stankoinstrument, Khimkompozit, the Kalashnikov Concern, the Tula Arms Plant, Technologii Mashinostroyeniya, Vysokotochnye Kompleksy, the Almaz-Antei Concern and Bazalt.
The new action adds 24 persons to the list of those subject to a travel ban and an asset freeze. They comprise persons allegedly involved in actions against Ukraine's territorial integrity, including the new leadership in Donbass, the government of Crimea, and Russian decision-makers and "oligarchs." This brings the total of persons subject to sanctions to 119, while 23 entities remain under asset freezes in the EU.
U.S. Sanctions Gazprom
Separately, the U.S. issued its own sanctions against Russian energy, defense and finance companies. The U.S. added Russian gas producer OAO Gazprom to sanctioned companies OAO Gazprom Neft, OAO Lukoil, OAO Surgutneftegas and OAO Rosneft. The U.S. Treasury also widened a ban on the export of goods, services and technology for shale-oil projects in Russia.
Also, the U.S. Treasury increased sanctions on Russia's banking sector. The new sanctions prohibit Bank of Moscow, Gazprombank, Russian Agricultural Bank, VEB and VTB from securing dollar-denominated debt of greater than 30 days' maturity--rather than greater than 90 days, as before.
According to a statement by U.S. Treasury Secretary Jacob J. Lew, the sanctions are aimed at pressuring Russia: "As in all of the sanctions steps we have taken, we have designed the actions announced today to deliver significant pressure on the targets of our sanctions, while safeguarding, to the extent possible, global financial markets and the global economy."
U.S. energy giant Exxon Mobil (NYSE:XOM) (Irving, Texas), in partnership with Rosneft, began drilling just last month in the Arctic Sea. Currently, Exxon Mobil is participating in a consortium on Sakhalin Island to produce oil and gas.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Under the EU sanctions, Russia's top oil producers and pipeline operators, including OAO Rosneft (LON:ROSN) (Moscow, Russia), OAO Transneft (MICEX:TRNFP) (Moscow) and OAO Gazprom Neft (MCX:SIBN) (St. Petersburg, Russia), will not be allowed to raise capital or borrow on European markets. The EU sanctions did not include the Russian state-controlled gas producer OAO Gazprom (PINK:OGAZPY) (Moscow), which is the biggest gas supplier to Europe.
The action also included financial sanctions against five major Russian state-owned banks. The EU also has imposed restrictions on the provision of loans and investment services for five Russian banks: Sberbank, VTB, Gazprombank, Vnesheconombank (VEB) and Rosselkhozbank.
The EU extended the same restrictions to three major Russian defense manufacturers: UralVagonZavod (UVZ), Oboronprom and United Aircraft Corporation (UAC).
The ban on exporting dual-use goods and technology for military use in Russia has been extended to include a list of nine mixed defense companies that must not receive dual-use goods from the EU: the Sirius Concern, Stankoinstrument, Khimkompozit, the Kalashnikov Concern, the Tula Arms Plant, Technologii Mashinostroyeniya, Vysokotochnye Kompleksy, the Almaz-Antei Concern and Bazalt.
The new action adds 24 persons to the list of those subject to a travel ban and an asset freeze. They comprise persons allegedly involved in actions against Ukraine's territorial integrity, including the new leadership in Donbass, the government of Crimea, and Russian decision-makers and "oligarchs." This brings the total of persons subject to sanctions to 119, while 23 entities remain under asset freezes in the EU.
U.S. Sanctions Gazprom
Separately, the U.S. issued its own sanctions against Russian energy, defense and finance companies. The U.S. added Russian gas producer OAO Gazprom to sanctioned companies OAO Gazprom Neft, OAO Lukoil, OAO Surgutneftegas and OAO Rosneft. The U.S. Treasury also widened a ban on the export of goods, services and technology for shale-oil projects in Russia.
Also, the U.S. Treasury increased sanctions on Russia's banking sector. The new sanctions prohibit Bank of Moscow, Gazprombank, Russian Agricultural Bank, VEB and VTB from securing dollar-denominated debt of greater than 30 days' maturity--rather than greater than 90 days, as before.
According to a statement by U.S. Treasury Secretary Jacob J. Lew, the sanctions are aimed at pressuring Russia: "As in all of the sanctions steps we have taken, we have designed the actions announced today to deliver significant pressure on the targets of our sanctions, while safeguarding, to the extent possible, global financial markets and the global economy."
U.S. energy giant Exxon Mobil (NYSE:XOM) (Irving, Texas), in partnership with Rosneft, began drilling just last month in the Arctic Sea. Currently, Exxon Mobil is participating in a consortium on Sakhalin Island to produce oil and gas.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
