Which energy sector entities have been sanctioned?

One of the most notable energy sector entities sanctioned was the Limited Liability Company Arctic LNG 2, the operator of the Arctic LNG 2 project, set to expand Russia’s share of the global LNG market and start production in early 2024. The company has not publicly acknowledged this sanction listing.

Are US sanctions affecting Russia's energy sector?

The United States and European Union began imposing significant sanctions on Russia’s energy sector in 2014. However, both the legacy and new sanctions have largely left Russia’s ability to maintain current upstream production and supply global markets untouched.

Why did the US stop investing in Russia's energy sector?

By September 2014, Western powers strengthened restrictions on Russia’s energy sector, with the United States prohibiting investment in long-term debt and equity of six—and the EU of three—leading Russian energy companies.

How does Russia sell energy products despite Western sanctions?

Russia will continue to find licit and illicit ways to sell energy goods despite Western sanctions. Russia is using its eastern ports, such as Kozmino, to circumnavigate price cap measures and increase its exports of oil and petroleum products to alternative buyers, including China and India.

Which companies have been sanctioned by the United States?

These sanctions included asset freezes and travel bans on sanctioned individuals. Additionally, the United States placed six major companies—Gazprom, Rosneft Oil Company, Novatek, Lukoil, Surgutneftegas, and Transneft—on the Sectoral Sanctions Identifications (SSI) List.

Which battery manufacturers will be banned?

Additionally, the other four battery manufacturers set to be banned are Envision Energy, EVE Energy, Gotion High-Tech, and Hithium Energy Storage Technology. Based on the report, of the top 10 battery suppliers in the world, just three are non-Chinese companies.