RUSSIA SANCTIONS: WON'T STOP DRILLING
When the White House, working with European allies, moved in early September to tighten sanctions against Russia, President Obama promised the damage to Russian interests would be severe. "These measures will increase Russia's political isolation as well as the economic costs to Russia, especially in areas of importance to President Putin and those close to him," Obama said in a statement on Sept. 11.
The rules gave U.S. companies engaged in Arctic, deepwater, or shale oil exploration and production in Russia 14 days to halt operations. One project was immediately affected: Universitetskaya-1, the $700 million joint exploration project that Rosneft, the Russian state-owned…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.