Russia puts European energy companies on sanctions list


Russia has imposed sanctions on 31 energy companies from the European Union, the United States and Singapore. The sanctions mainly concern Gazprom Germania, the former German division of the Russian state gas company Gazprom. Also on the sanctions list is EuRoPol, the owner of the Polish part of the Yamal gas pipeline which transports Russian gas to Europe.

The sanctions prohibit Russian companies from trading with companies on the blacklist. They are also no longer obligated to fulfill their obligations to sanctioned companies, says the decree signed by President Vladimir Putin. Vessels used by companies on the sanctions list are no longer allowed to enter Russian ports.

Germany took control of Gazprom Germania in April. Shortly before, this company had concluded an acquisition transaction without informing the regulator of the German gas network, when it should have done so.

After the Russian invasion of Ukraine, Western countries have already imposed many sanctions against Russia. For example, the Russian central bank’s foreign assets were closed and transactions with several major Russian banks were banned. The export of strategically important goods, such as semiconductors, to Russia is also prohibited.

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