The United States has announced sanctions on over 200 entities and individuals connected to Russia's energy sector, along with identifying more than 180 vessels as blocked property. This move aims to limit revenue from Russia's energy resources and impact President Putin’s ability to finance the conflict in Ukraine.
Secretary of State Antony J. Blinken stated, "This wide-ranging, robust action will further constrain revenues from Russia’s energy resources and degrades Putin’s ability to fund his illegal war against Ukraine."
The Department of State is targeting nearly 80 entities and individuals involved in the production and export of liquefied natural gas (LNG) from Russia. This includes those attempting to increase oil production capacity, supporting the Arctic LNG 2 project, engaging in metals and mining, and senior officials at State Atomic Energy Corporation Rosatom.
Simultaneously, the Department of the Treasury is imposing sanctions on more than 150 entities and individuals. These include major Russian oil producers Gazprom Neft and Surgutneftegas, insurance companies, and shadow fleet vessels. The Treasury is also highlighting the energy sector of Russia as a target for restrictions to curb revenue generation for malign activities. Additionally, a new determination was issued prohibiting certain services related to crude oil extraction from being provided to persons in Russia.
Joining this effort is the United Kingdom. Both nations are collaborating with G7 partners to reduce Russia's financial capabilities in continuing its actions against Ukraine. "We stand in solidarity with Ukrainians in defending their homeland from Russia’s aggression," Blinken added.
The sanctions by the Department of State follow Executive Order (E.O.) 14024 while those by the Department of the Treasury are under E.O. 14024, E.O. 13662, and E.O. 14071.
For detailed information on these actions, refer to the fact sheet released by the Department of State and the press release by the Department of the Treasury.