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2014-10-08 21:05:00

SANCTIONS VS PRICES

SANCTIONS VS PRICES

Oil prices that have plunged to a 27-month low are inflicting damage on a Russian economy already contending with escalating sanctions from the U.S. and European Union over its role in Ukraine.

The U.S. and EU have targeted individuals, companies and the finance, energy and defense industries to punish Vladimir Putin's government after Russia annexed Crimea and gave support to separatists in eastern Ukraine. While Schlumberger Ltd. and Exxon Mobil Corp. scaled back oil-related operations in September, that didn't stop Russian production of crude and condensates from rising to near a post-Soviet era record.

"In…

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Tags: OIL, PRICE, SANCTIONS, RUSSIA, U.S., EU, EXXON, SCHLUMBERGER
Chronicle:
SANCTIONS VS PRICES
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