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America says that due to these new sanctions, Russia will face economic difficulties in continuing the war against Ukraine. file photo
Taking action against Russia on Friday, America and Japan announced several new sanctions. According to Reuters, America has banned more than 200 Russian companies and more than 180 ships. America has also banned two Indian companies Skyheart Management Services and Envision Management Services.
The Biden government says that these Indian companies had transported LNG from Russia, which is a violation of US sanctions.
Japan has seized the assets of companies owned by many Russian citizens. Apart from this, Japan has also announced sanctions against many such organizations which had helped Russia in evading the sanctions imposed earlier.
Crude oil prices increased by 3% due to US sanctions. On Friday, the price of crude oil in the international market crossed $ 80 per barrel. Due to these restrictions, India and China may now face difficulty in exporting oil from Russia.
Russia’s attempt to reduce energy resource income
US Secretary of State Antony Blinken says that this action taken against Russia will limit its income from energy resources. Due to this, Russia will face economic difficulties in continuing the war against Ukraine.
Japan also banned North Korea and Georgia
The Japanese government issued a statement saying that sanctions have been imposed on 11 individuals, 29 organizations and three banks of Russia on Friday. Apart from this, action has also been taken against a bank of North Korea and Georgia for helping Russia.
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said that these sanctions show our commitment to help Ukraine.
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said that Japan has imposed sanctions on banks of North Korea and Georgia along with Russia.
Russia said – Biden is making the situation difficult for Trump
Shortly before the announcement of US sanctions, Kremlin (Russian President’s Office) spokesperson Dmitry Peskov said that the Biden Administration is trying to make things difficult for the incoming Trump administration.
Peskov said-
We know that the Biden Administration will try to leave a difficult legacy for Trump as he leaves.
Russian oil price may go below $60 per barrel
India and China have become the largest importers of Russian crude oil after the Russian attack on Ukraine in 2022. According to Reuters, Indian refineries will avoid using Russia’s sanctioned vessels, which is likely to cause further decline in Russian oil prices.
Russian oil prices could fall below $60 a barrel due to new sanctions, an Indian refining source told Reuters. Russia accounts for 10% of global oil production.
For sanctions to be successful, they must be sustainable
Dalip Singh, America’s Deputy National Security Advisor for International Economics, said that some people will ask why we waited until the end of the administration to impose sanctions on Russian oil. The answer is that for sanctions to be successful, they must be sustainable.
This does not mean that they should be cost free. Sanctions are never cost-free, but to be successful they must serve the same purpose as the reason they are imposed, rather than harming the US and global economy.
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