Moscow (TDI): The Kremlin warned on Monday that the latest round of US sanctions on the Russian energy sector risked destabilizing global markets, and Moscow would do everything possible to minimize their impact.
“It is clear that the US will continue to try to undermine the positions of our companies in non-competitive ways, but we hope that we will be able to counteract this,” Kremlin spokesman Dmitry Peskov said.
“At the same time, of course, such moves cannot but lead to a certain destabilization of global energy markets, oil markets. We will very carefully monitor the effects and configure the work of our companies in order to minimize the consequences of these illegal decisions.”
The US Treasury imposed wider sanctions on Russian oil sector on Friday, targeting producers Surgutneftegaz and Gazprom Neft, as well as 183 vessels that have shipped Russian oil.
The move was meant to reduce Russia’s revenues for financing the war with Ukraine.
Also Read: US Targets Russian Oil with New Sanctions
A US official said the restrictions could cost Moscow billions of dollars per month if sufficiently enforced.
The sanctions have prompted Chinese and Indian refiners, which have imported heavily from Russia, to seek alternative supplies of crude oil.
Many of the tankers hit by the latest sanction have been used to ship oil to those two nations.
Also Read: Putin Orders to Address Black Sea Oil Spill
Peskov stated that modern experience had shown it was impossible to block natural supply routes for energy.
“You cut something in one place, and an alternative option appears somewhere else. Therefore, a search will be conducted for work options that will minimize the effects of sanctions,” he said.
