WSJ: New U.S. sanctions against Russia may harm American oil companies

Under consideration in the U.S. Congress a bill to increase sanctions pressure on Russia if approved, could hurt the American oil and gas companies. This is stated in the article the Wall Street Journal.

Many companies are also prohibited currently to invest in and provide consulting services in oil and gas projects in Russia.

The bill would prohibit American companies from participating in any project involving sanctioned Russian firms.

The WSJ notes that in practice, it is able to cut off U.S. companies from projects to develop deepwater oil fields and thus play into the hands of China.

The Wall Street Journal emphasizes that the Russian business will be able to submit applications for the right to participate in the development of a Deposit. The American competitors, according to the WSJ, will have to withdraw their applications and give their rivals from Europe and China, which are not bound by restrictions.

According to the Vice-President of the American National foreign trade Council in new York, Richard Savai’i, the provision of the bill would deprive U.S. companies rights to develop oil and gas fields worth about $100 billion over 10 years.

On 15 June, the Senate passed a bill on new sanctions against Iran and Russia. The bill introduces restrictions against individuals and organizations that contribute to cyber attacks and are behind the provision of arms to the Syrian government.

Sanctions can affect the mining, metallurgical, shipping and other sectors of the Russian economy.

For final approval, the initiative should support the House of representatives, then the bill goes to the President for approval.

The publication Politico, citing a senior official in the administration trump wrote that the White house intends to seek commutation provisions of the bill on new anti-Russian sanctions.

June 26, White house spokesman Sean Spicer said that the U.S. Senate has committed a violation of procedure during the adoption of the bill on strengthening sanctions pressure.

July 10, Director for legislative Affairs the White house mark Short said that Washington supports the introduction of new economic sanctions against Russia and Iraq, however, the bill currently being considered in the U.S. Congress, unacceptably constrains the powers of the President.

WSJ: New U.S. sanctions against Russia may harm American oil companies 11.07.2017

Июль 11th, 2017 by
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