Russia sanctions on 30+ EU, US, Singapore energy companies
In a retaliatory move following Western sanctions, the Russian government sanctions dozens of energy companies.
Russia has imposed sanctions on more than 30 EU, US, and Singaporean energy companies in a retaliatory move following Western sanctions over the war in Ukraine, a Russian government decree announced Wednesday.
The Russian government's list targets 31 companies, most of which belong to the Gazprom Germania group of subsidiaries of Russian energy giant Gazprom.
Germany said in April it was taking control of the German subsidiary of Gazprom.
The sanctions also target Poland's EuRoPol GAZ S.A., the owner of the Polish part of the Yamal-Europe gas pipeline.
The sanctions include a ban on transactions and the entry into Russian ports of vessels linked to the sanctioned companies.
On Wednesday, Germany's ministry of economy and climate protection said the government was "making the necessary arrangements and preparing for different scenarios."
"The gas crisis team is monitoring the situation closely," the Ministry added.
It is noteworthy that on May 3, Russian President Vladimir Putin signed a decree authorizing the use of new special tit-for-tat economic measures in response to hostile activities by certain foreign nations and international organizations.
The document, in particular, forbids fulfilling obligations and finalizing deals with foreign persons and legal organizations under retaliatory restrictive measures, as well as exporting raw materials and goods from Russia for the benefit of these individuals.
According to the decree, these measures are taken to protect Russia’s national interests "due to unfriendly actions which contradict international law by the United States of America and foreign states and international organizations that joined them directed at illegitimately depriving the Russian Federation, the citizens of the Russian Federation and Russian legal entities of property right and restricting their property right."