US Unleashes New Sanctions on Russia to Target Oil Revenue, Affecting Sales to China and India - PRESS AI WORLD
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US Unleashes New Sanctions on Russia to Target Oil Revenue, Affecting Sales to China and India

share-iconSaturday, January 11 comment-icon1 week ago 8 views
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scmpSCMP
US Unleashes New Sanctions on Russia to Target Oil Revenue, Affecting Sales to China and India

Credited from: SCMP

  • The US has imposed significant sanctions on Russia's energy sector, targeting major oil producers like Gazprom Neft and Surgutneftegas.
  • This move follows a commitment of US$500 million in military support for Ukraine, emphasizing the connection between sanctions and military aid.
  • The sanctions are designed to increase risks across the entire Russian oil production and distribution chain, potentially raising costs for Russia substantially.
  • The sanctions may affect key buyers of Russian oil, including China and India, who have been purchasing record quantities despite previous efforts.
  • This announcement aims to weaken Russia's economy and change the cost-benefit analysis for its ongoing military actions in Ukraine.

For the full article, visit SCMP.

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