Putin Dismisses Impact of New US Sanctions on Oil Giants, Calls Them ‘Pressure Tactic’
MOSCOW: Russian President Vladimir Putin has downplayed the potential long-term economic impact of the latest sanctions imposed by the United States on Russia’s two largest oil companies, Rosneft and Lukoil, labelling the move an attempt to exert political pressure on Moscow.
The sanctions, announced by the US on Wednesday and marking the first punitive action against Russia since US President Donald Trump returned to office, were called “an unfriendly act” by Mr. Putin that “does not strengthen Russia-US relations, which have only just begun to recover.”
Speaking to the media yesterday, the Russian leader conceded that the measures are “serious for Russia and they will have certain consequences,” but insisted they “will not significantly impact the country’s economic well-being.”
Mr. Putin firmly rejected the notion that Moscow would alter its course due to external pressure. “No self-respecting country ever does anything under pressure,” he stated.
The President also disclosed that he had cautioned his US counterpart, Donald Trump, during a recent conversation that the sanctions targeting the major oil producers would impact global oil prices, including those in the United States.
The US action targets two major pillars of Russia’s energy sector—Rosneft, a state-controlled giant, and Lukoil, the country’s largest private oil company. The move is widely seen as an escalation in US efforts to choke off funding for the Kremlin.