What's at Stake WIth Sanctions?
Last week the U.S. moved to impose a fresh round of sanctions aimed at the Russian energy sector. The sanctions, also set to be imposed by the European Union, will block the export of technologies that could help Russia develop its oil sector.
The measures are designed in such a way that they are not likely to affect current oil production or prices, but could hinder future development by Russian energy companies. As National Journal's Marina Koren points out, however, there's more at stake than meets the eye.
Exxon Mobil is partnering with Russia's state-owned oil giant OAO Rosneft in oil exploration in Arctic seas, and "the new sanctions put U.S. oil companies working with Russia in an uncomfortable spot."
Has the U.S. struck the right balance with the latest round of energy sanctions? Will they have the desired effect? Or could they have unintended consequences? And will American companies with an interest in Arctic exploration feel the pinch?
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