The US has extended its offshore oil industry sanctions against Russia by adding the Yuzhno-Kirinskoye Field in the Sea of Okhotsk to its list.
This field, offshore eastern Siberia, is one of Gazprom’s largest and the US authorities acknowledged as much in levying the penalty. A statement released by the Federal Register stated that the field, discovered by Gazprom in 2010, contains substantial reserves of oil and gas.
The Federal Register is a daily publication of the US federal government that issues proposed and final administrative regulations of federal agencies.
Moscow-based Gazprom is the world’s biggest natural gas extracting firm.
These extended sanctions are all part of the geopolitical manoeuvring between the former Cold War foes that has been intensified because of what the US perceives as Russia’s interference in Ukraine.
Adding the Yuzhno-Kirinskoye field to the sanctions list means a licence will be required for the export of any US technology to the field, effectively barring such exports.
Moscow warned the new sanctions will further damage bilateral relations between the two nations.