Obama to target Russia’s energy industry with sanctions

The Obama administration is preparing sanctions for specific sectors of Russia’s economy, including energy and technology, Bloomberg News reported.

The sanctions will come as part of the United States’ efforts to punish Russia for its aggression against Ukraine, Bloomberg said, citing sources familiar with the plans. The European Union and other U.S. allies may not agree on this round of sanctions, the sources said.

ADVERTISEMENT
The United States will target both Russia’s natural gas and oil industries, Bloomberg said. The sanctions are aimed at technology used to explore, produce and transport natural gas, crude oil and refined petroleum products.

The White House did not respond to Bloomberg’s request for comment on the plans.

The U.S. Chamber of Commerce and the National Association of Manufacturers are planning a major advertising campaign to oppose additional sanctions, Bloomberg reported. Major U.S. companies such as General Electric Co., Boeing Co. and Caterpillar Inc. are some of the leading source of Russian investment and could suffer from the sanctions.

More in Energy & Environment

EPA to unveil methane leak rules for oil, gas

Read more »