03.11.23 / LNG sanctions / Article

New US Sanctions: A Bold Step in Our Fight Against Russian Aggression

Unveiling Stricter Sanctions on Russia’s Fossil Fuels and Arctic LNG Expansion

For over a year, Razom We Stand has been on the front lines, championing the cause of stricter sanctions on Russian oil and liquefied natural gas (LNG).

The US Department of State and the Office of Foreign Assets Control (OFAC) have now taken significant steps by adopting new sanctions on November 2, 2023. These sanctions are a direct response to Russia's ongoing aggression and aim to curtail the means by which Russia sustains its destructive actions.

Secretary of State Antony Blinken said the State Department sanctions were imposed on people involved in sanctions evasion, among other things. “Our actions today also target Russia’s future energy capabilities, which will limit Moscow’s ability to funnel future revenues toward its destructive aims,” Blinken said.

In recent months, Razom We Stand has been actively advocating for restrictions on Russian expansion into the Arctic. Among the primary focuses of these sanctions is Russia's expansive Arctic LNG-2 project, which significantly enhances Russia's energy capacities. It's essential to highlight one of the entities affected by these sanctions - Limited Liability Company ARCTIC LNG 2. This company is the operator of the Arctic LNG 2 Project, a flagship LNG project of the major Russian natural gas company Novatek, located in Russia’s Arctic region.

Our global community is well aware that Moscow's energy prowess has been a driving force behind its ongoing destruction. By hitting this project and its enablers, we are striking a blow against Russia's expansion into the Arctic LNG sector for peace and climate.

Arctic LNG-2, in particular, represents a carbon-intensive project, akin to a "carbon bomb," as it is a fossil fuel endeavor that is projected to release more than 1 billion metric tons of carbon dioxide over its lifetime, posing a grave threat to the climate.

Founder of Razom We Stand, Svitlana Romanko, has been standing shoulder to shoulder with our NGO and local community partners in Washington this week, engaging in critical discussions with the high profile US officials responsible for sanctions. Together, we are united in advocating for the implementation of stricter sanctions on Russian oil and LNG, as well as stressing the significance of international investments in renewable energy and the 'green' reconstruction of Ukraine.

"These new sanctions represent a significant step in our ongoing fight against Russian aggression. They send a clear message that the world stands united in the face of war and human suffering. However, being strong means acknowledging that more must be done. Stricter sanctions are not just a matter of justice; they are a fundamental step toward ensuring a peaceful and sustainable future for Ukraine and the world. Our work will continue, our voices will remain unwavering, and together, we will push for the change needed to end this war and protect the environment for generations to come,” said Svitlana Romanko, Founder of Razom We Stand.

The US Department of State, along with one of its divisions, the Office of Foreign Assets Control, Department of the Treasury (OFAC), plays a primary role in administering and enforcing numerous U.S. sanctions programs. In coordination with the Department of State, OFAC issues licenses where appropriate for a variety of goods, services, and transactions.

In the latest sanctions, the OFAC is targeting a wide array of Russia-based industrial firms that produce, import, distribute, and repair industrial machinery, machine tools, spare parts, additive manufacturing equipment, ball bearings, and other industrial equipment and materials. This includes companies in the gas and oil sectors, as well as entities in the energy sector.

Targeting those who abet Russia's unconscionable war against Ukraine and limiting Russia's future energy capabilities sends a strong message. As we demand stronger sanctions, we reaffirm our commitment to a future of peace, justice, and environmental sustainability.

Together, we will make a difference and strive for a future defined by peace, justice, and sustainability.