Russia dismisses new US sanctions over war in Ukraine
The boss of Russia’s fastest growing natural gas company says sanctions are ‘a badge of success’
03 November 2023 - 12:18
byGuy Faulconbridge
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
The US has targeted Russia’s future energy capabilities, sanctions evasion and a suicide drone that has been a menace to Ukrainian troops and equipment, in sanctions on hundreds of people and entities. Pictures: REUTERS/Dado Ruvic
Moscow — Russia on Friday dismissed new US sanctions over the war in Ukraine, saying that the US would never defeat Moscow, while the boss of Russia’s fastest growing natural gas company quipped the sanctions were a badge of success.
The US on Thursday targeted Russia’s future energy capabilities, sanctions evasion and a suicide drone that has been a menace to Ukrainian troops and equipment, among others, in sanctions on hundreds of people and entities.
“This is a continuation of the policy of inflicting as they call it — a strategic defeat on us,” Maria Zakharova, a spokesperson for the Russian foreign ministry, told Russian state television when asked about the new sanctions.
“They will have to wait in vain forever before that happens.”
Western leaders and Ukraine have repeatedly said they seek to defeat Russia on the battlefield, though some Western leaders have denied what President Vladimir Putin says is a Western plot to carve up Russia and steal its natural resources.
Putin is girding the $2.1-trillion economy for a long war and Western hopes of stoking a swift Russian economic crisis with some of the toughest sanctions ever imposed have not been realised.
The IMF forecasts Russian growth of 2.2% this year — faster than either the US or the Euro area — though the fund last month lowered its forecast for 2024 growth to 1.1%.
The West has frozen hundreds of billions of dollars of Russian money, but Putin has joked that the sanctions have not stopped the import of Western goods such as luxury Mercedes to Russia and that Moscow will work to undermine the sanctions by buying what it wants on global markets.
The US, itself a large LNG producer that exports to Europe, is also trying to reduce Russia’s LNG shipments to Europe, which has only banned Russian gas sent via pipeline.
The Arctic-2 LNG project — targeted by the new sanctions — had been expecting to start exporting soon and it is uncertain how much Russian LNG will now be blocked.
The largest Russian LNG producer Novatek NVTK.MM said in September it would start shipments from Arctic-2 LNG early next year.
Leonid Mikhelson, the head of Russian natural gas producer Novatek, told a conference in the Uzbek city of Samarkand that the US sanctions were a badge “of our professionalism”.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Russia dismisses new US sanctions over war in Ukraine
The boss of Russia’s fastest growing natural gas company says sanctions are ‘a badge of success’
Moscow — Russia on Friday dismissed new US sanctions over the war in Ukraine, saying that the US would never defeat Moscow, while the boss of Russia’s fastest growing natural gas company quipped the sanctions were a badge of success.
The US on Thursday targeted Russia’s future energy capabilities, sanctions evasion and a suicide drone that has been a menace to Ukrainian troops and equipment, among others, in sanctions on hundreds of people and entities.
“This is a continuation of the policy of inflicting as they call it — a strategic defeat on us,” Maria Zakharova, a spokesperson for the Russian foreign ministry, told Russian state television when asked about the new sanctions.
“They will have to wait in vain forever before that happens.”
Western leaders and Ukraine have repeatedly said they seek to defeat Russia on the battlefield, though some Western leaders have denied what President Vladimir Putin says is a Western plot to carve up Russia and steal its natural resources.
Putin is girding the $2.1-trillion economy for a long war and Western hopes of stoking a swift Russian economic crisis with some of the toughest sanctions ever imposed have not been realised.
The IMF forecasts Russian growth of 2.2% this year — faster than either the US or the Euro area — though the fund last month lowered its forecast for 2024 growth to 1.1%.
The West has frozen hundreds of billions of dollars of Russian money, but Putin has joked that the sanctions have not stopped the import of Western goods such as luxury Mercedes to Russia and that Moscow will work to undermine the sanctions by buying what it wants on global markets.
The US, itself a large LNG producer that exports to Europe, is also trying to reduce Russia’s LNG shipments to Europe, which has only banned Russian gas sent via pipeline.
The Arctic-2 LNG project — targeted by the new sanctions — had been expecting to start exporting soon and it is uncertain how much Russian LNG will now be blocked.
The largest Russian LNG producer Novatek NVTK.MM said in September it would start shipments from Arctic-2 LNG early next year.
Leonid Mikhelson, the head of Russian natural gas producer Novatek, told a conference in the Uzbek city of Samarkand that the US sanctions were a badge “of our professionalism”.
Reuters
Gazprom delivers second LNG shipment to China via Suez Canal
Jewellers keen to distance themselves from Russia’s lucrative diamond trade
US penalties shift Russian oil to ‘ghost fleet’
US sanctions target Russian-based firm over instability in Sudan
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.