US companies banned from participating in Russian oil projects

Фото: Depositphotos

The US Treasury announced a ban on US citizens and companies from participating in Russian projects related to oil production in the Arctic, on the shelf and in depth, writes Meduza.

The sanctions will take effect on January 29 of 2018. They prohibit the supply of goods, services and technologies for such projects.

Restrictions were introduced in accordance with the law on the expansion of sanctions against Russia, adopted in the US in the summer of 2017. They supplement the sanctions imposed in connection with the situation in Ukraine.

The law on the expansion of sanctions against Russia was adopted in the United States in August 2017. One of its provisions prohibits the president, without the approval of Congress, to lift anti-Russian sanctions.

At the end of October, the US Department of State опубликовал a list of Russian companies against which new sanctions may be imposed from the beginning of 2018 onwards.

The United States imposed sanctions against Russia in 2014 year in connection with the annexation of the Crimea and the conflict in the Donbas. At the end of 2016, the United States introduced new restrictions against Russia because of the alleged interference in the election of the American president.