Russia’s Foreign Ministry has denounced the new round of sanctions that have been announced by the United States and the United Kingdom, targeting Moscow’s energy sector. The sanctions, announced on Friday, are meant to reduce Russian revenues derived from oil and gas, part of efforts to weaken Russia amid its ongoing war in Ukraine.
The Russian Ministry of Foreign Affairs in a statement issued on Saturday said the sanctions are an attempt to damage Russia’s economy, and that such actions may destabilize global energy markets. The officials in Russia indicated that despite the new sanctions, the country would continue to pursue its large-scale oil and gas projects.
It criticized the US’s leadership, charging his administration with having a record of taking “hostile” steps, and blamed his government for an effort at the risk of world instability that seeks to hurt Russia by enacting the sanctions. The Russian nation still finds its role a key one in the global energy market despite labelling its economic plight a “hybrid war” it described as a creation by the powers in the West.
The new sanctions target major Russian oil companies, including Gazprom Neft and Surgutneftegas, and more than 180 vessels affiliated with these firms. These steps meet obligations of the Group of Seven (G7) nations to reduce Russia’s revenue from energy exports.
The UK government has also taken sanctions against Gazprom Neft and Surgutneftegas, blaming the companies for providing financing support for Russia’s war. Ukrainian President Volodymyr Zelenskiy appreciated the steps taken, saying it would strike a big blow to Russia in funding its war, thus drawing peace closer to reality.
