U.S. Imposes Export Sanctions against Russian Oil and Gas Sector

8 August 2014
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Key takeaways:

  • The US has banned the exportation of items destined for use in Russian deepwater, shale and Arctic offshore oil and gas projects.
  • The export ban applies to a wide range of items used in oil and gas exploration, if the exporter has reason to know they will be used for the specified types of projects in Russia.
  • There is no exemption for performance of existing contracts.

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