US Assistant Secretary of State for Energy Geoffrey Pyatt said that the United States is focused on preventing Russia from developing new gas projects.
Washington intends to continue to impose sanctions on Russian oil tankers. This is necessary to strengthen compliance with the G7 price cap on Russian oil exports, which has successfully reduced Moscow's oil revenues.
“We are trying to reduce Russia's oil and gas revenues as quickly as possible without destabilizing our global energy market,” he told the FT Commodities global summit.
A State Department spokesman added that "US and coalition enforcement actions should be expected to continue."
According to him, Moscow's oil tax revenues have fallen by almost 30% compared to 2022 levels, and the overall decline in revenues from Russian oil exports is $2.6 billion compared to November 2022.
Payette noted that the United States and allies will adhere to this course of action as long as it is necessary to change the behavior of the Russian Federation and force it to stop the war against Ukraine.
"What you have seen is a bifurcation of global energy markets. You have one market that is deep, transparent and well integrated into the global economy, and you have another market that is shallow, opaque and unreliable. Our goal is to do this the second market is to increase the Kremlin’s expenses in order to reduce the income that Russia enjoys,” he said.
Payette also pointed to recent reports that Russia's Novatek has suspended production at its Arctic LNG 2 project due to sanctions and a shortage of gas tankers.
“We are very focused on preventing Russia from developing new projects,” said a US foreign policy official.
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