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Russia Denounces US Sanctions on Gazprom Neft, Surgutneftegas, Vows Retaliation

Jan 11, 2025, 04:20 PM

Russia has denounced new sanctions imposed by the United States against its energy sector, describing them as an attempt to harm the Russian economy at the risk of destabilizing global markets. The Russian Foreign Ministry stated that these measures, targeting major oil companies Gazprom Neft and Surgutneftegas, as well as 183 vessels involved in shipping Russian oil, are an effort to inflict damage on Russia's economy even as the tenure of US President Joe Biden comes to an end. Russia vowed to respond to these 'hostile actions' and to continue its large oil and gas projects despite the sanctions. The ministry emphasized that Russia remains a key player in the global fuel market and will consider these actions in shaping its foreign economic strategy. Ukrainian President Volodymyr Zelensky hailed the sanctions, stating they would deliver a significant blow to Moscow's war chest and accelerate peace efforts by reducing Russia's oil revenue.