S & P does not believe in the efficacy of the EU and the United States energy sanctions.

The sanctions will not have a significant impact on the Russian fuel and energy sector, the Standard & Poor's (S & P) rating agency states. Russia still has large reserves of hydrocarbons, which may be extracted by conventional methods, and the majority of oil and gas projects that require the use of the new methods of production are in the embryonic stage, RBC daily informs.

The EU and the United States imposed sanctions against Russian fuel and energy sector on August 1st and 6th, restricting the export of certain goods and technologies that are intended for use in the long-term Arctic shelf, deepwater and shale oil projects in Russia. The United States approached with tougher measures banning the export of equipment (including some of the technology for the seismic exploration and hydraulic fracturing in its list) to Russia. Washington banned American companies and banks from lending to "Rosneft" and Novatek for more than 90 days. Europe did not introduce any restrictions against specific oil and gas companies. The duration of the United States sanctions has not been agreed, while the European were introduced for one year.

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