The United States and the UK imposed new sanctions on Russia
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US Sanctions Target Russian Oil Industry |
The United States and the UK targeted Russia's oil industry in particular, announcing new sanctions against Gazprom Neft and Surgutneftegaz, including subsidiaries and other entities which support them. Sanctions against the Russian oil industry, the source of most of Russia's revenues, aim to hit production, shipping, and finance. Thousands of sanctions against Russia have already been imposed since 2014, but according to Moscow, none of those have worked. Even so, many countries in the European Union were still purchasing considerable volumes of Russian natural gas in 2023.