The U.S. and European Union are poised to halt billions of dollars in oil exploration in Russia by the world\u2019s largest energy companies in sanctions that would cut deeper than previously disclosed.<\/p>\n
The new sanctions over Ukraine would prohibit U.S. and European cooperation in searching Russia\u2019s Arctic, deep seas or shale formations for crude, according to three U.S. officials who spoke on condition of anonymity because the measures haven\u2019t been made public. If implemented, they would affect companies from Dallas to London, including Exxon Mobil Corp. and BP Plc.<\/p>\n
EU ambassadors met today and will resume deliberations tomorrow in Brussels on whether to trigger added sanctions or wait longer to see if a cease-fire holds between Ukraine and pro-Russian separatists and if Russia backs moves toward a longer-term agreement.<\/p>\n
Once the EU implemented the new ban on sharing energy technology and services, the U.S. would follow suit with a similar package, including barring the export of U.S. gear and expertise for the specialized exploration that the Russians are unequipped to pursue on their own, the U.S. officials said.<\/p>\n
EU governments agreed on these oil-related sanctions on Sept. 8 as part of a wider package of measures intended to hobble Russia\u2019s finance, defense and energy industries, pending evaluation of the cease-fire declared in Ukraine last week, according to two European officials who also spoke on condition that they not be named.<\/p>\n
Source: Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"
The U.S. and European Union are poised to halt billions of dollars in oil exploration in Russia by the world\u2019s largest energy companies in sanctions that would cut deeper than previously disclosed. The new sanctions over Ukraine would prohibit U.S. and European cooperation in searching Russia\u2019s Arctic, deep seas or shale formations for crude, according … Continue reading “Sanctions against Russia would affect Exxon and BP”<\/span><\/a><\/p>\n","protected":false},"author":2961,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,3],"tags":[2703,70,12253,9953,5850,1061],"class_list":["post-15870","post","type-post","status-publish","format-standard","hentry","category-europe","category-news","tag-bp","tag-eu","tag-europe","tag-exxon-mobil","tag-russian-federation","tag-sanctions"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/15870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/2961"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15870"}],"version-history":[{"count":2,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/15870\/revisions"}],"predecessor-version":[{"id":15872,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/15870\/revisions\/15872"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}