The US is tightening its grip on one of the key pillars of Russia's economy

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The US is tightening its grip on one of the key pillars of Russia's economy

//business-finance.news-articles.net/content/202 .. -one-of-the-key-pillars-of-russia-s-economy.html

Published in Business and Finance on Friday, January 10th 2025 at 16:01 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Oil and gas revenue is expected to account for around 27% of Russia's federal revenue in 2025, according to a draft budget viewed by Reuters.

The U.S. is intensifying its economic sanctions against Russia by targeting its energy sector, a critical component of the Russian economy. According to a recent report, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on several Russian entities and individuals involved in the energy sector, aiming to disrupt Russia's ability to finance its military operations, particularly in Ukraine. These measures include sanctions on companies like Gazpromneft and Transneft, which are pivotal in oil and gas transportation, and restrictions on new investments in Russian energy projects. The sanctions are part of a broader strategy to weaken Russia's economic stability by targeting its primary revenue source, amidst ongoing geopolitical tensions. This move not only seeks to limit Russia's financial capabilities but also sends a strong message to other nations about the consequences of supporting Russia's actions.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/the-us-is-tightening-its-grip-on-one-of-the-key-pillars-of-russia-s-economy/ar-BB1rfcU5 ]