US imposes sanctions, Russia still maintains billion-dollar energy revenue

Châu Anh |

Democratic lawmakers accused loose sanctions of helping Russia earn billions of dollars from gas sales to China.

On November 24, a group of four Democratic Senators, led by Ms. Elizabeth Warren, expressed concern about the effectiveness of sanctions against the Russian energy sector under the Trump administration.

Lawmakers say lax supervision of the Arctic LNG 2 liquefied natural gas (LNG) export project is creating conditions for Russia to maintain an important source of revenue.

According to information from the Senate group, the lack of thorough implementation of restraining measures is allowing China to access LNG from this project at a significant discount, ranging from 30-40%. "This is the latest example that the current administration has not put enough pressure to put Russia on the table to end the conflict," Ms. Warren said in a statement.

Although the US government imposed direct sanctions on two major Russian oil and gas corporations, Lukoil and Rosneft, in October, the Arctic LNG 2 project operated by Novatek Group still seems to have found a way to maintain export activities.

Logo ben ngoai tru so Lukoil o Matxcova, Nga. Anh: AFP
logo outside Lukoil headquarters in Moscow, Russia. Photo: AFP

According to cited data, the unit has successfully sold about 14 LNG shipments since August, despite the project being on the sanctions list issued by former President Joe Biden since the end of 2023.

The group described the operation as a multibillion-dollar energy revenue, which would contribute to Russia's military operations in Ukraine's budget. In that situation, lawmakers have called on the US Congress to establish a mechanism for a close review of any proposal to ease or lift future sanctions on Russia, to ensure effective use of economic pressure tools.

Responding to these opinions, a White House official said that President Trump hopes to soon end the conflict and promote a peace agreement between Russia and Ukraine. The official emphasized Trump's view that "there needs to be flexibility" in diplomatic approaches to end the war.

Meanwhile, the US State Department in a document responding to senators affirmed that it would carefully consider the information provided regarding the Arctic LNG 2 liquefied gas project to give appropriate responses. However, the group of lawmakers said that the response had not properly resolved questions about the roadmap for applying specific sanctions to this facility.

Châu Anh
RELATED NEWS

Russia accepts unprecedented gas price reduction for sale to China

|

Russia has been forced to sell gas at unprecedented discounts to China to find a way out in the cycle of sanctions.

US suddenly lifts sanctions on Russia in nuclear power plant project

|

The US has allowed back transactions with many major Russian banks involved in the Paks-2 nuclear power plant project in Hungary.

Russia breaks the ban on selling gold reserves amid rising gold prices

|

The Russian Central Bank admitted to selling gold from its national reserve warehouse amid high gold prices.

Sanctions on Russia are counterproductive, Europe bears financial and political consequences

|

Turkish Foreign Minister Hakan Fidan warned that Europe is paying a heavy price in politics and finance, as people are dissatisfied and governments continue to change.

Oil prices cool down, markets suspect US commitment to sanction Russia

|

Oil prices cooled down after soaring, as the market was skeptical about the real effectiveness of Russian sanctions.

Sanctioning Russia at the wrong time, EU and US suffer consequences

|

Sanctions on Russia and a backward trend on Russian gas have caused an estimated loss of more than $1,400 billion to the EU and the US.

WHO recommends Vietnam to absolutely ban e-cigarette and heated tobacco trading

|

WHO representative recommended that Vietnam include the trading of e-cigarettes and heated tobacco products in the list of prohibited industries of the amended Investment Law.

China launches emergency spacecraft for the first time

|

China deploys emergency missions to ensure the safety of the Tianjin space station.

Russia accepts unprecedented gas price reduction for sale to China

Song Minh |

Russia has been forced to sell gas at unprecedented discounts to China to find a way out in the cycle of sanctions.

US suddenly lifts sanctions on Russia in nuclear power plant project

Song Minh |

The US has allowed back transactions with many major Russian banks involved in the Paks-2 nuclear power plant project in Hungary.

Russia breaks the ban on selling gold reserves amid rising gold prices

Song Minh |

The Russian Central Bank admitted to selling gold from its national reserve warehouse amid high gold prices.

Sanctions on Russia are counterproductive, Europe bears financial and political consequences

Châu Anh |

Turkish Foreign Minister Hakan Fidan warned that Europe is paying a heavy price in politics and finance, as people are dissatisfied and governments continue to change.

Oil prices cool down, markets suspect US commitment to sanction Russia

Châu Anh |

Oil prices cooled down after soaring, as the market was skeptical about the real effectiveness of Russian sanctions.

Sanctioning Russia at the wrong time, EU and US suffer consequences

Song Minh |

Sanctions on Russia and a backward trend on Russian gas have caused an estimated loss of more than $1,400 billion to the EU and the US.