The U.S. Treasury banned Americans from doing business with Russia for oil

The Ministry of Finance of the USA forbade the citizens to support the Russian projects connected with oil production. On Tuesday, October 31, reported on the Agency’s website.

Indicates that Americans are forbidden to provide, export, reexport goods, services and technologies in order to assist in geological research or the production of oil in deep waters in the Russian Arctic shelf.

The ban on cooperation will concern physical persons and legal entities in Russia that have already been made or can be made to the American sanctions lists. The restrictions apply to projects beginning January 29, 2018 and later.

The Finance Ministry stated that the sanctions are imposed in connection with the conflict in Ukraine.