Obama May Have Just Dealt A Crushing Blow To Russias Oil - TopicsExpress

Obama May Have Just Dealt A Crushing Blow To Russias Oil Exploration New U.S. sanctions handed down on Friday are designed to effectively shut off Russian oil conglomerates from oil exploration projects, U.S. officials said, in a move aimed squarely at Russias $425 billion-a-year petroleum industry. The measures are designed to effectively shut down this type of oil exploration and production activity by depriving these Russian companies of the goods, technology, and services that they need to do this work, a senior Obama administration official said Friday. . The official added the intention of the new sanctions was to ensure that we have effectively shut off the capacity of Russian oil companies to draw on U.S. expertise for deepwater, Arctic offshore, and/or shale oil exploration projects.

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