Energy

New US oil sanctions counterproductive – Russia

Photo caption: Russian President Vladimir Putin. 

 

Russia said on Thursday that new US sanctions on its oil industry risked hurting diplomatic efforts to end the Ukraine war, and that it had developed a “strong immunity” to them.

US President Donald Trump announced new sanctions on Russia’s two largest oil companies on Wednesday, complaining that his peace talks with Russia’s Vladimir Putin were not going “anywhere”.

Trump held off introducing new restrictions against Russia for months, but his patience snapped after plans for a fresh summit with Putin in Budapest collapsed.

“We view this step as being entirely counterproductive, including in terms of signalling the need to achieve meaningful negotiated solutions to the Ukrainian conflict,” Russian foreign ministry spokeswoman Maria Zakharova told a weekly briefing.

“Our country has developed a strong immunity to Western restrictions and will continue to confidently develop its economic potential, including its energy potential,” she added.

=== AFP ===

 

 

Related posts

S&P: With delay in Dangote refinery, Sub-Saharan Africa to continue 700,000 bpd diesel import

Editor

OPEC+ agrees July oil output hike of 411,000 bpd

Editor

DisCos owe power sector N2.6tn, face Reps probe

Editor

FG slashes petrol pump price to N121.50 per litre

Editor

Crude exports to Europe rise as FG boosts local supply

Editor

Seplat majority shareholders uphold sanctity of half-year results

Editor