US and UK Impose Harsh New Sanctions on Russia's Energy Sector
On January 10, 2025, the United States and the United Kingdom announced a new round of sanctions aimed at Russia's energy sector. This comprehensive action specifically targets Gazprom Neft and other major oil companies, with the sanctions encompassing 180 Russian ships as well as various oil firms. This move aligns with commitments made by the G7 to diminish Russian energy revenues amid ongoing tensions.
In conjunction with these measures, the US has added nearly 400 individuals and entities to its sanction list, including several oil traders and their subsidiaries. President Biden highlighted the sanctions’ potential to critically undermine Russia's economy and its military operations, despite the possibility of resulting gas price hikes in the US and Europe.
Russia reacted strongly, condemning the sanctions and labeling them as "toxic." Conversely, Ukrainian President Volodymyr Zelensky praised the sanctions, viewing them as a significant strike against Russia's military capabilities.
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