U.S. Targets Russian Oil Sector With Equipment-Export Ban
- Russia is world’s second biggest oil producer, behind U.S.
- Export restrictions designed to crimp Russia’s energy sector
An oil drilling site near Almetyevsk, Russia.
Photographer: Andrey Rudakov/Bloomberg
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The Biden administration said Wednesday it is seeking to degrade Russia’s status as a leading world producer of oil and natural gas by restricting exports of technology related to the energy sector.
The U.S. and its allies “share a strong interest in degrading Russia’s status as a leading energy supplier,” the White House said in a fact sheet describing new export controls, including restrictions on the sale of oil technology.