New US sanctions hit Russian oil giants and maritime fleet

Gazprom Neft, Surgutneftegaz, and over two dozen of their subsidiaries have been hit with new sanctions by the United States, with the UK also imposing restrictions.

This move was announced on the US Treasury's website, Caliber.Az reports. 

The sanctions target various entities within these companies. For Gazprom Neft, this includes its refineries in Moscow and Omsk, production subsidiaries like Gazprom Neft-Noyabrskneftegaz and Gazprom Neft-Orenburg, and its foreign operations in Tajikistan, Kazakhstan, Kyrgyzstan, and Serbia (NIS). The sanctions also extend to Gazprom Neft International in Luxembourg, Gazprom Neft Shelf, and Gazprom Neft Aero, among others.

Surgutneftegaz has similarly been affected, with sanctions targeting its bank, the Kaliningradnefteproduct, and the Kirishinefteorgsintez (Kinef) refinery, among other assets.

Gazprom Neft responded to the new sanctions through its press service, stating that the company had been preparing for such scenarios over the past two years. The company emphasised that it has already been under sanctions since 2022 and reassured that its operations would continue to function with stability.

Additionally, the United States has prohibited American companies from providing oilfield services to Russia since February 27, further escalating the pressure.

Other companies targeted by the sanctions include Rosneft’s maritime subsidiary, Rosnefteflot, as well as several operators of sea vessels. A total of 183 vessels, part of a "shadow fleet" involved in transporting oil, have been sanctioned. These vessels are flagged in Russia, Panama, Barbados, and Gabon and include oil tankers, passenger ships, and supply vessels.

Several foreign companies involved in the trade of Russian oil, including those registered in the UAE and Hong Kong, are also affected. Additionally, insurance companies Ingosstrakh and Alfa Insurance, which provide coverage for maritime transport, are subject to the new restrictions. Ingosstrakh stated that it would continue operating as usual and fulfilling its commitments.

Other industries are also impacted, including coal mining companies such as the Denisovsky plant in Yakutia and Kuzbassrazrezugol, as well as the Liski plant for assembly blanks.

The White House described these sanctions as the most severe yet imposed on the Russian energy sector. The US Treasury also announced the removal of an exemption that previously allowed Russian banks to facilitate energy payments, marking a further tightening of sanctions on the country's energy industry.

By Tamilla Hasanova