U.S. Sanctions Target Gazprombank: A New Front in Energy Trade Battle

The U.S. has imposed new sanctions on Russia’s Gazprombank, aiming to disrupt Russian gas exports. These measures are part of broader efforts to deter European energy reliance on Russia amidst tensions with Ukraine. The Kremlin, however, remains confident they will find a way around these restrictions.

The Kremlin has declared that recent U.S. sanctions on Gazprombank are a deliberate attempt to disrupt Russian gas exports across Europe. This comes as Washington places new restrictions on the major Russian bank.

Sanctions announced on Thursday prevent Gazprombank from engaging in any fresh energy-related transactions involving the U.S. financial system, cutting its ability to trade with American entities and freezing its assets within the United States. The Kremlin-owned gas company Gazprom partially owns Gazprombank, and these actions follow Ukraine's calls for more stringent U.S. measures against the bank, which processes gas payments from European customers.

Kremlin spokesman Dmitry Peskov confirmed that the sanctions aim to dissuade European purchases of Russian gas, insisting that Russia will fight to secure its right to continue supplying. Although Gazprombank's role in future transactions is unclear, Peskov assured that viable alternatives will be sought, asserting that complete economic isolation of Russia is impractical.

(With inputs from agencies.)