US and UK Issue Sweeping Sanctions on Russian Oil, LNG

The United States and the UK are unveiling a sanctions regime against Russia to increase the cost of the Eurasian power’s war in Ukraine. The sweeping new sanctions aim to erode Russia’s ability to bring in revenues from its energy sector, according to a Treasury Department fact sheet shared with The Epoch Times. Russian oil giants Gazprom Neft and Surgutneftegas will be blacklisted, as will dozens of their subsidiaries and all entities that are at least 50 percent owned by the two companies or any of their subsidiaries. Deputy National Security Adviser Daleep Singh said in a statement shared with The Epoch Times that the new sanctions would affect virtually all parts of Russia’s oil and natural gas sector....