Analyst: Russian oil sector not to suffer much from EU sanctions

The oil sector of Russia will not meet with significant losses because of the EU sanctions. The analyst J.Camp says ..

A number of sanctions were imposed on Russia including a number of ban on equipment for oil developments. However, an analyst lists exclusions, which allow a lot of projects to be realized in an established order. In particular, the sanctions concern the development of deep-water, Arctic and shale deposits. What is more, the contracts concluded are still in force, the agency states. The sanctions will not affect the contracts, concluded with Exxon, BP, Shell and Total.