Joe Biden Deals a Blow to Putin's Arctic Drive
The US administration's sanctions on Russia's oil sector have severely disrupted Moscow's Arctic oil business and stymied the progress of its oil tanker fleet, according to a report issued on Tuesday.
Why It Matters
To meet his goals for military spending, which will account for one-third of the government's budget in 2025.
Sanctions imposed by the United States and other countries supporting Ukraine are intended to curb Putin's ability to continue his aggression against Ukraine, which began in February 2022.
What To Know
As President Biden's time in the White House comes to a close, US officials announced on January 10 their most significant sanctions yet against Russia's energy sector, specifically targeting tankers and storage facilities. The measures were imposed on major energy producers like Gazprom Neft and Surgutneftegas, as well as 183 oil- shipping vessels.
Days following the imposition of the sanctions, Reuters reported that insiders indicated Putin's Arctic oil operations were experiencing difficulties due to crude oil supplies, which are typically acquired by Asian buyers, being forced to remain stored.
The sanctions are impacting at least 15 tankers that carried Russian Arctic oil, as Reuters reports, and the news agency's sources believe millions of barrels of Russian oil may be left unsold.
We contacted the Kremlin via email on Friday for a statement.
Sanctions Targeting Defense Industry
The U.S. Treasury Department took further action by imposing penalties on companies and organizations connected to Russia's defense industry.
The U.S. announced that it was placing sanctions on more than 150 individuals and entities assisting Russia's military and defense.
Additional sanctions will limit Russia's ability to wage war and undermine efforts to evade sanctions," Blinken stated. "Our sanctions actions target numerous companies outside of Russia that assist Russia in circumventing the sanctions, specifically in the People's Republic of China, which is the largest supplier of critical military-related goods to Russia.
What People Are Saying
The United States is launching a major attack on Russia's main source of financing for its cruel and unlawful war against Ukraine.
She added, "This step is a continuation of our efforts since the start of the war to prevent the Kremlin from generating revenue through its control of energy, including the G7+ price cap that was implemented in 2022. By taking these actions today, we're increasing the financial risk connected to Russia's oil trade, including transportation and financial assistance that helps Russia export its oil."
What Happens Next
According to Reuters, India and China are signaling that they are not interested in purchasing oil from designated tanker ships and are already looking to expand their oil supply beyond Russia.
Related Articles
- Donald Trump's Inauguration: Will Russia Attend the Event?
- Ukraine Takes Lead in Three Crucial Areas Over Russia
- Russia's Entire North Korean Military May Be Eradicated by April: ISW
- F-35 Successfully Narrowly Evades Collision with Russian Fighter above NATO Waters: Footage
Posting Komentar