Washington: The Biden administration has introduced an extensive sanctions package against Russia’s energy sector, aiming to escalate pressure on Moscow over its prolonged conflict in Ukraine. Among the targets are over 150 entities and individuals, including major Russian oil producers Gazprom Neft and Surgutneftegas, insurance companies, shadow fleet vessels, and two Indian companies—Skyhart Management Services and Avision Management Services.
Rosatom Denounces Sanctions as Unlawful
Russia’s State Atomic Energy Corporation, Rosatom, condemned the sanctions as baseless and a tactic of unfair competition.
“Sanctions targeting Rosatom’s management are regarded as unfounded and unlawful. Today, Rosatom is a global leader in the export of nuclear energy technologies, so the sanctions are seen as a form of unfair competition from unfriendly states,” Rosatom stated.
The company emphasized its resilience, highlighting its ability to adapt under growing sanctions pressure.
“For nearly three years, we have operated under growing sanctions pressure, adapting successfully and remaining prepared for any scenario. Rosatom continues to meet all its commitments to partners in full,” the statement added.
Impact on Russia’s Economy
According to US officials, the sanctions, designed to penalize entities doing business with Russian firms, could cost the Russian economy billions of dollars each month. This latest move underscores the Biden administration’s commitment to imposing economic consequences on Moscow for its actions in Ukraine.
Also Read | Russia Sues Norway’s Equinor Over Nord Stream 2 Explosion
Indian Companies in the Crosshairs
Skyhart Management Services and Avision Management Services, two Indian firms, were named in the sanctions list for their dealings with Russian entities. The inclusion of these companies marks a notable development in the broader effort to curb global support for Russia’s energy and financial sectors.
Geopolitical Implications
As the sanctions ripple through the global energy market, they highlight the widening scope of international efforts to isolate Russia economically. However, Rosatom’s response reflects Moscow’s determination to withstand external pressures and maintain its position as a leading exporter of nuclear energy technologies.
