Der Spiegel: Russian oil sector and banks suffer from Western sanctions

Sanctions against Russia, which the European Union and the United States imposed against the background of the Ukrainian crisis, have tangible consequences for Russian enterprises. According to the German edition Der Spiegel, penalties have an impact on the oil industry, which needs Western technologies for oil production in the Arctic.

In particular, the United States stopped the delivery of production technolgies to the company Gazprom burenie. In the medium-term, the decline in oil production in Russia can be up to 10%, vice president of the science town Skolkovo, Nikolay Grachev reported.