The USA and European allies have recently increased their sanctions against Russia because of the takeover of the Crimean and continuing fighting in the east of Ukraine, which has a Russian-speaking majority.
This time, the sanctions appear more severe and Russia is retaliating by forbidding certain exports and imports from European and other countries.
The main question, however, is to what extent these sanctions would include Big Oil? Namely, companies such as ExxonMobil, who have confirmed their intention to go ahead with offshore drilling in the Russian Arctic, for assistance to Russia in shale gas developments and additional LNG investment in Sakhalin LNG for more exports to Japan. These are weak technological deficiencies of Russian oil and Gas companies.
Will Big Oil once again escape from the fate of ordinary people and companies and be allowed to continue as in Russia? Or, will sanctions at least be postponed until after the summer when the Arctic offshore drilling has already been completed?
Somehow I feel Big Oil will win again….
Shale Intel 