US Mulls Stronger Sanctions Against Russian Energy

Posted by Michelle Howard
Wednesday, September 03, 2014

The United States is considering limiting hi-tech exports to Russia's Arctic oil and gas industry as part of plans to strengthen sanctions against Moscow over the crisis in Ukraine, a U.S. envoy said on Wednesday.


On the eve of a NATO summit in Wales, the United States is expected to join the European Union in imposing new sanctions on Russia after EU leaders agreed at the weekend that the direct engagement of Russian troops in Ukraine in support of separatist rebels merited such a step.

"We are looking at further tightening of restrictions on energy exports and the licensing of hi-tech exports, not only to the energy sector but specifically to Arctic oil and gas," the U.S. ambassador to the European Union, Anthony Gardner, told Reuters in Brussels.

Russia, the EU's main energy supplier, has some of the world's largest undiscovered oil and gas deposits off its coasts and its energy ambitions could be jeopardised by sanctions.

Gardner said the United States was working in close cooperation with the European Commission, EU ambassadors and EU leaders on the next steps to pressure Russian President Vladimir Putin into a political solution in Ukraine.

In the early stages of the conflict in Ukraine, the United States moved more quickly than Europe, and President Barack Obama imposed sanctions on some of Russia's biggest firms for the first time in July.

But the European Union has taken firmer steps since the downing of a Malaysian airliner over rebel-held territory in eastern Ukraine.

Following the EU leaders' call for stronger sanctions, the European Commission is finalising a draft of new measures, and EU governments will make a decision on the final shape of the package by Friday.

Diplomats have told Reuters that the European Union is considering widening to all Russian state-owned firms a ban on borrowing or raising capital in Europe, as well as barring Russian Defence Minister Sergei Shoigu from entering the EU.

Asked if the United States would also move to limit Russian state firms from financing themselves abroad, Gardner said: "All those options are on the table. We've considered tightening of financial restrictions; you mentioned one of them."

He also said Washington was considering tightening restrictions on military sales to Russia but declined to go into further detail.

Measures discussed by EU ambassadors on Monday also included banning syndicated EU loans to Russian government-owned banks and institutions and a ban on buying Russian derivatives.

Other ideas include an expansion of an export ban on goods that can have both military and civilian use to all potential Russian importers, not just companies in the defence sector as agreed by the EU sanctions package from July.

"Everything is on the table right now," Gardner said.

(By Robin Emmott, Reporting by Robin Emmott; Editing by Will Waterman)

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

Strong Tanker Market Extends Peak Season High Earnings

Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported.

Environmental

IMO Calls for Environmentally Sound Ship Recycling in Bangladesh

The  International Maritime Organization (IMO) and the government of the People’s Republic of Bangladesh are jointly implementing a project entitled “Safe and

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Energy

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

Skangass Celebrates Topping Up

Nordic liquefied natural gas operator Skangass  has celebrated a topping out ceremony at its Pori LNG terminal. The company said it was making progress in the

Falklands' Oil Drilling at Isobel Deep Suspended

Oil explorers drilling in the waters north of the Falkland Islands have suspended work on the second well of their 2015 current six-well drilling campaign after a technical problem.

News

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

People in the News

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

Government Update

Judge Orders Migrant Boat to Remain in Custody

An Italian judge on Friday ordered that the presumed captain of a migrant boat that sank with the loss of more than 700 lives should remain in custody after prosecutors

Iran Moves Ships, Reducing Tensions Near Yemen

A flotilla of nine Iranian military and cargo ships that U.S. officials feared was carrying arms to strife-torn Yemen sailed northeast in the direction of Iran on Friday,

Rescue Ships Head for Libya, as Migrants Die Also in Balkans

British and German warships made ready to sail for waters off Libya as Europe ramped up rescue operations in the Mediterranean after up to 900 desperate migrants

Arctic Operations

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

Rolls-Royce to Power Ice-class MPV

Rolls-Royce informs it has secured a contract to supply a power and propulsion package for an ice-class multipurpose vessel under construction at Keppel Singmarine

Logistics

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1886 sec (5 req/sec)