US targets Russian oil refining sector with export controls

(WASHINGTON) — The U.S. Commerce Department announced restrictions on certain goods used to refine oil preventing them from going into Russia in response to the invasion of Ukraine.

The restrictions build upon a 2014 rule put in place on the Russian deepwater oil and gas exploration and extraction industries, by denying such items and placing restrictions on a wide variety of items necessary for refining oil.

“These actions will further restrict access to U.S. commodities, software, and technology as part of our ongoing efforts to degrade Russia’s ability to acquire the items it needs to sustain its military aggression,” the Commerce Department said in a statement.

The U.S. also added 91 entities to its “Entity List,” banning them from use in the U.S. for their involvement in, contributions to or support of Russian security services, military and defense sectors and military and/or defense research and development efforts, the Commerce Department said.

“With each passing day, as Russia continues its assault on Ukraine, it finds itself with fewer places to turn for economic and material support,” said Secretary of Commerce Gina M. Raimondo.

She added, “The United States and our allies and partners will continue to stand strong with the people of Ukraine and today’s actions will further restrict Russia’s access to revenue to support its aggression.”

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