Falling oil prices are likely to check Russian tight oil development, although domestic firms say the impact of US and EU sanctions can be overcome in time. The sanctions against the country’s oil firms are designed to undermine Russia’s ability to maintain crude production in the longer term. Sector-specific sanctions target arctic, deepwater and tight oil projects, banning the supply of equipment, services and technology. Foreign firms that had been planning to develop projects now covered by sanctions have either pulled out or put activities on hold.
展开▼
