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US and EU sanctions may force Russia to produce less oil

Migration today, 18:31 717 viewed
Belenets Vitaliy
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Image depicting how Russia is producing less oil due to US and EU sanctions
Image depicting how Russia is producing less oil due to US and EU sanctions

Economic sanctions from the US and EU on exporting technologies to the Russian oil and gas industry may lead to a decrease in oil production in Western Siberia. This opinion was expressed by the international rating agency Fitch.

"This is explained by the fact that the methods of enhancing oil recovery used in such fields are similar to the technologies for extracting shale oil, and this sector is one of the primary targets of the sanctions," the statement said.

Fitch also notes that in the medium term, such measures are likely to delay a number of larger Russian projects, particularly on the Arctic shelf.

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