Trump hits Russia with fresh sanctions and targets Chinese trade

Russia’s oil and gas sector was recently targeted in new US sanctions rolled out on oligarchs and companies linked to a Russian government, writes Keith Nuthall. Seven Russian oligarchs and 12 companies they own or control; 17 senior Russian government officials; a state-owned Russian weapons trading company and its subsidiary, a Russian bank, will have their US-based assets frozen. Americans will be banned from undertaking any dealings with them. 

The sanctioned oligarchs reportedly include President Vladimir Putin’s son-in-law Kirill Shamalov, shareholder of oil and gas company Sibur; Vladimir Bogdanov, Director General of oil and gas company Surgutneftegaz; oil and gas exploration company Gazprom Burenie; energy investment company the Renova Group; and power company EuroSibEnergo.

Separately, the US has threatened to impose 25% duties on China-made exports of parts for offshore oil and natural gas, drilling and production platforms, including for boring and sinking machinery, to protest against alleged Chinese thefts of American intellectual property.  These oil and gas sector technologies have been included on a draft US Trade Representative (USTR) list of China-made goods that would attract these duties – https://assets.documentcloud.org/documents/4430282/Office-of-the-United-States-Trade-Representative.pdf

This will be subject to public consultation lasting until May 22, after which the US will choose which tariff lines will attract tariffs. In response, the Chinese Ministry of Commerce has said, should the Americans go ahead, it may impose 25% retaliatory duties on propane and US-made road vehicles.