Russia adds European energy companies to sanctions list | Now

Russia has imposed sanctions on 31 energy companies in the European Union, the United States and Singapore. The sanctions are a major blow to Casprom Germany, the former German arm of the Russian state-owned gas company Gazprom. EuRoPol, the owner of the Polish region of the Yamal gas pipeline that carries Russian gas to Europe, is also on the list.

Sanctions prohibit Russian companies from doing business with blacklisted companies. By order signed by President Vladimir Putin, they will no longer be obligated to fulfill their obligations to approved companies.

Ships used by companies on the embargo list will no longer be allowed to enter Russian ports.

In April, Germany’s Gasprom captured Germany. Shortly before that, the company terminated the acquisition agreement without informing the German gas network regulator.

Following the Russian invasion of Ukraine, Western nations have already imposed a number of sanctions on Russia. For example, the foreign assets of the Russian Central Bank were closed and transactions with several large banks from Russia were banned. Exports of strategically important materials such as semiconductors to Russia are also banned.