U.S. issues latest round of sanctions against Russia

2017/11/2 22:53:21

Analyst: “We don’t see such sanctions as being effective in convincing Russia to withdraw from Ukraine. Presidential elections are scheduled for next year and Putin can’t capitulate by withdrawing from Donbas, which would ruin his image among the public.”


WASHINGTON, Oct 2, 2017 - The U.S. Treasury Department issued a directive on Oct. 31 forbidding U.S. citizens and companies from participating in several energy projects in Russia, Concorde Capital informed clients today in an online advisory. The prohibited activities include the provision, exportation or re-exportation of goods, services or technology in support of exploration or production for deepwater, Arctic offshore or shale projects. These projects include those that have the potential to produce oil in the Russian Federation, or those initiated on or after Jan. 29, 2018 that have the potential to produce oil in any location.

 

The sanctions were imposed in accordance with legislation that reflects the consensus of the U.S. Congress to deter Russian military aggression, the U.S. State Department said in a media note. “We continue to call on Russia to honor its commitments under the Minsk agreements to withdraw from the Crimean Peninsula and cease its malicious cyber intrusions,” the statement said.

 

Concorde analyst Zenon Zawada added: Sanctions remain the main instrument for Western governments to get Russia to comply with international law. But we don’t see such sanctions as being effective in convincing Russia to withdraw from Ukraine. Presidential elections are scheduled for next year and Putin can’t capitulate by withdrawing from Donbas, which would ruin his image among the public. Naturally, withdrawing from Crimea is out of the question.

 

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For more information, link here: www.concorde.ua 

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