Russia says it will continue oil and gas projects despite US sanctions

MOSCOW (Reuters) – Russia’s Foreign Ministry on Saturday denounced new U.S. sanctions against Moscow’s energy sector as an attempt to damage the Russian economy with the risk of destabilizing global markets and said the country would press ahead. with large oil and gas projects.

A ministry statement also stated that Russia will respond to Washington’s “hostile” actions, announced on Friday, while developing its foreign policy strategy.

The statement said the measures amounted to “an attempt to inflict at least some damage on the Russian economy, even at the risk of destabilizing global markets as the end of President Joe Biden’s ignominious term in power approaches.” “.

“Despite the convulsions in the White House and the machinations of the Russophobic lobby in the West, which tries to drag the world energy sector into the ‘hybrid war’ unleashed by the United States against Russia, our country has been and continues to be a key actor and reliable. “A player in the global fuel market.”

The measures constituted the most comprehensive US sanctions package yet targeting Russia’s oil and gas revenues, part of moves to give kyiv and the incoming Donald Trump administration leverage to reach a deal to end to the war in Ukraine.

The US Treasury imposed sanctions on Gazprom Neft and Surgutneftegas, which explore, produce and sell oil, as well as 183 vessels that have shipped Russian oil, many of which are part of the so-called shadow fleet of aging tankers operated by non-western companies. .

Ukrainian President Volodymyr Zelenskiy said the measures would “deal a significant blow” to Moscow. “The less revenue Russia gets from oil… the sooner peace will be restored,” he said.

(Reporting by Vladimir Soldatkin and Ron Popeski. Editing by Mark Potter and Diane Craft)