US sanctions against Russia’s energy sector will last for many years – Kommersant
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Presidential press secretary Dmitry Peskov answered a journalist’s question about the United States’ intention to halve Russia’s oil revenues by 2030. Today, December 1, I spoke about such plans Financial Times US Assistant Secretary of State for Energy Resources Geoffrey Pyatt. Dmitry Peskov said that he had not yet seen such statements, but expressed confidence that US sanctions would last “for many years.”
“We have no doubt that the United States will continue to try to put pressure on Russia, including on the entire system of international trade and economic relations, essentially destroying the existing format,” Mr. Peskov said.
According to him, pressure on the Russian economy from the United States is illegal. “It’s probably worth adding that, indeed, the United States is the largest economy, but not the only one. And the global economy is not limited to the US economy. There is an economy that is catching up on the heels of the United States, this is China,” he said.
According to a forecast by the International Energy Agency, by 2030, Russia’s oil and gas exports could decline by at least 40-50% if US sanctions against the Russian energy sector remain in effect. “We are going to do everything possible to make this a reality,” Geoffrey Pyatt commented on the forecast (quoted by FT).
On December 5, 2022, the United States and the G7 countries introduced an embargo on Russian oil, and from that same day the price ceiling for oil from Russia was set at $60 per barrel. Since February 5, 2023, the European Union embargo on Russian petroleum products has been in force. On November 2, the United States imposed sanctions on the Arctic LNG 2 liquefied natural gas project. On November 16, the United States imposed restrictions on three Liberian-flagged oil tankers that were carrying Russian oil at prices above the established ceiling.
Read more about US sanctions against Arctic LNG-2 in the Kommersant article “Suddenly wider”.
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