Russia:Sanctions against the oil industry to strike the offshore projects.

The new EU sanctions - now against the Russian oil sector – will primarily hit the offshore projects and the development of hard to recover reserves, according to most analysts polled by RIA Novosti.

On Tuesday evening it became known that the EU countries have reached a preliminary agreement on the imposition of the economic sanctions against Russia in connection with the situation in the Ukraine. In particular, the EU Council decided to restrict the exports of equipment for the oil industry into Russia, Bloomberg reported citing an informed source. At the same time the economic sanctions may be reviewed after three months.

Last week the United States expanded the sanctions against Russia. Gazprombank, Vnesheconombank, "Rosneft" and Novatek were added to the list. The U.S. did not try to stop the daily activities of these companies and banks, but they have closed access to the country's financial markets, prohibiting the U.S. companies and individuals to give them loans for more than 90 days

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