Russia Will Not Change Oil Exploitation Plan for Sanctions
Posted: 09/18/2014 12:09:22 Edited: 09/18/2014 01:09:33 Clicks: 2298
Alexander Novak, the Secretary of the Russian Ministry of Energy said that the Russian Ministry of Energy predicted that significant change in oil and gas industry would not change for sanctions, including oil exploitation plan.
He said, “At present, we are studying how sanctions affect oil exploitation together with corporations and experts. We consider that according to initial estimation, significant changes should not occur.”
Meanwhile, Novak pointed out that the Russian Ministry of Energy was researching about putting off general plan of development in industry before 2035. He said, “The work will be ended by the end of this year.”
It was know that after Crimea joining in Russia, the U.S. and EU carried out several sanctions on Russian corporations, banks and a series of economic field, including oil industry.
On September 12, the U.S. and EU launched officially new sanctions on Russia, referring to finance, oil, military and other industries to strike Russian economy further. EU forbad European enterprises providing services on developing and processing oil in deepwater or the Arctic Pole, Russian shale oil program. On the same day, the U.S. limited to supply or reexport goods to five Russian corporations. It also restricted to supply technologies on oil exploitation in the deepwater and the Arctic Pole and Russian large shale oil program. Those five corporations are Rosneft, Gazprom, Gazpromneft, Lukoil and Surgutneftegas.
Faced with the new sanctions of the Western, Russia adopted solutions and began to show its trump card. On September 12, Putin, the Russian President stated that Russia was considering retaliatory measure. Andrei Belousov, Putin’s economic assistant claimed that Russia may prohibit importing automobiles or clothing form the Western. Move over, it is said that Russia may limit European airline to use lanes to fly through Siberia. The Western ranked some Russian banks, oil and military enterprises into its sanction list, limiting them to entering into its capital market. For that, Russian government had already promised support those banks and enterprises.
He said, “At present, we are studying how sanctions affect oil exploitation together with corporations and experts. We consider that according to initial estimation, significant changes should not occur.”
Meanwhile, Novak pointed out that the Russian Ministry of Energy was researching about putting off general plan of development in industry before 2035. He said, “The work will be ended by the end of this year.”
It was know that after Crimea joining in Russia, the U.S. and EU carried out several sanctions on Russian corporations, banks and a series of economic field, including oil industry.
On September 12, the U.S. and EU launched officially new sanctions on Russia, referring to finance, oil, military and other industries to strike Russian economy further. EU forbad European enterprises providing services on developing and processing oil in deepwater or the Arctic Pole, Russian shale oil program. On the same day, the U.S. limited to supply or reexport goods to five Russian corporations. It also restricted to supply technologies on oil exploitation in the deepwater and the Arctic Pole and Russian large shale oil program. Those five corporations are Rosneft, Gazprom, Gazpromneft, Lukoil and Surgutneftegas.
Faced with the new sanctions of the Western, Russia adopted solutions and began to show its trump card. On September 12, Putin, the Russian President stated that Russia was considering retaliatory measure. Andrei Belousov, Putin’s economic assistant claimed that Russia may prohibit importing automobiles or clothing form the Western. Move over, it is said that Russia may limit European airline to use lanes to fly through Siberia. The Western ranked some Russian banks, oil and military enterprises into its sanction list, limiting them to entering into its capital market. For that, Russian government had already promised support those banks and enterprises.
