Washington (Business emerge), September 6: In its latest move against Russia’s energy sector, the United States on Thursday introduced new sanctions aimed at two companies and two vessels associated with Russia’s Arctic LNG 2 project. This marks another step in Washington’s efforts to intensify financial pressure on Moscow for its ongoing conflict with Ukraine.
The sanctions target Gotik Energy Shipping Co and Plio Energy Cargo Shipping, with Gotik being the registered owner and Plio Energy serving as the commercial manager of the liquefied natural gas carrier, New Energy. The U.S. Treasury revealed that these entities played a crucial role in facilitating shipments linked to the U.S.-sanctioned Arctic LNG 2 project. The ship-to-ship transfer of cargo between the vessel New Energy and Pioneer, another U.S.-blocked ship, on August 25, 2024, further exemplifies Russia’s continued efforts to circumvent international sanctions.
Additionally, the U.S. Treasury expanded its sanctions list to include New Energy and another vessel under Plio Energy’s control, Energy Mulan. As a result, all assets connected to these vessels are now blocked, and American citizens and entities are prohibited from engaging with them.
Russia’s Arctic LNG 2 project, which is 60% owned by Novatek, was once slated to be the nation’s largest liquefied natural gas plant. The plant, with an estimated production capacity of 19.8 million metric tons annually, has faced numerous setbacks due to an array of U.S. sanctions, including those imposed in August. These sanctions have the potential to significantly slow down the project’s development.
“The U.S. will continue to take swift action against any attempts to operationalize the Arctic LNG 2 project or to enhance Russia’s energy capacities,” warned U.S. State Department spokesperson Matthew Miller. He reiterated that the U.S. remains steadfast in responding to actions that support Russia’s energy ambitions despite sanctions.
The latest sanctions underline Washington’s commitment to enforcing stringent economic measures aimed at curtailing Russia’s ability to finance its military operations.