Rosneft's Arctic oil development project is stopped due to Western sanctions

6 July, 2022 Wednesday
18:22

Russia's large oil development project, which investors valued at EUR 70 billion, has been stopped due to sanctions imposed on Russia. 

Andriy Yermak, head of the Ukrainian President's Office, informed about this.

The Vostok Oil development project in the Arctic of the Russian company Rosneft has stopped due to sanctions. Previously, the project was estimated at EUR 70 billion and was supposed to be launched by 2024. However, according to forecasts, it will not be possible to launch it until at least 2029.

Earlier, by the end of the decade, it was planned to extract 2% of the world's oil there.

"Western sanctions guarantee Russia a way 'back to the past'. The gas embargo is the main thing that should be in the seventh EU sanctions package. It is also necessary to limit all oil imports," Yermak commented.

Read also:
  • News
2022, Monday
15 August
22:05
Ukraine's Armed Forces destroy 20% of Russian army's formations - Defense Express expert
21:45
Russia's war on Ukraine continues because of Russians with Schengen visas - diplomat
21:25
Due to the front's length, it takes time to achieve artillery parity with enemy Russian forces - Ukrainian Armed Forces Colonel Kravchuk
21:05
About 8% of the population: which Polish cities have the most Ukrainian refugees
20:45
Russian forces are  unable to concentrate forces on large areas of front - Vadym Denysenko
20:25
Russians are afraid of losing freedom to travel in  Europe: increasing numbers of people applying for Schengen visas - Center for Countering Disinformation
20:05
Invading Russian forces offer Russian officials double their rouble salary, bonuses in hryvnias for work in Ukraine - intelligence
19:45
Heavy fighting underway in Donetsk direction, infantry lacks artillery support
19:35
Ukrainian parliament continues martial law in Ukraine
19:15
"We destroy enemy Russian forces with their own weapons": Ukrainian military create anti-tank artillery installation from captured Russian quipment 
18:55
No one has done more for Ukraine's unification than Putin - Academician Libanova, Ukrainian National Academy of Sciences 
18:35
"We are fighting for our and your freedom": Zaluzhny congratulates the Poles on Polish Army Day
18:25
In Kherson direction, Ukrainian Armed Forces destroy Russian forces' infantry fighting vehicle, manpower 
18:15
Ukrainian Armed Forces could form basis for Europe's future security architecture - political scientist Tsybulko
18:01
Eastern European "Davos": Poland's largest economic forum will start on September 6 in Karpac
17:55
"They tried to join Kyiv's volunteer battalions": Ukraine's Security Service expels Russian criminals from Ukraine
17:35
Russian forces mine some elements at Zaporizhzhia nuclear power plant, try to strike them in false-flag operation - regional council deputy 
17:14
Prepare for Russian false-flag operations in Ukraine, West on Independence Day - Main Intelligence Directorate 
16:54
Russian forces shell Novgorod-Siversk community in Chernihiv region, damaging civilian infrastructure
16:34
Ukrainian IT army carries out cyber attacks on Russian Pension Fund online resources, paralyzes Russian post office 
16:15
Ukraine, Europe need to form new Russian government - former Russian lawmaker 
15:55
Melitopol citizens are sent to filtration camps only for the Ukrainian flag in their homes - Mayor Fedorov
15:35
"The number of casualties is being clarified": Gaidai confirms Ukrainian Armed Forces attacked Wagner PMC HQ in Popasna
15:15
Switchgear damaged at Zaporizhzhia nuclear power plant, operation risks radiation safety violations - Energoatom
14:55
Andrzej Duda commemorates Ukrainian People's Republic soldiers
14:35
Ukrainian Air Forces destroy Russian military Ka-52 helicopter in Donetsk region
14:15
"Western dictatorship" and "pro-Russian sentiment among the American military": Russia spreads new fake stories
13:55
Russian forces strike Nikopol, Manganetsk with Grad MLRS, fire four S-300 rockets on Pokrovsk
13:35
Battle for southern Ukraine reaches important phase - Zgurets
13:15
POW treatment must be on the global  agenda - Azov soldier wife 
12:55
Germany receives robotic models of Russian tanks
12:55
Finnish Prime Minister supports ban on issuing visas to Russians
12:35
Russian forces shell Mykolaiv overnight, damaging hotel, educational institution (Updated)
12:15
Missile hits car used by Russian tourists vacationing in Crimea
11:55
ISW names priority directions for Russian forces in Ukraine
11:35
Russia loses about 200 soldiers, 12 tanks and 1 helicopter per day since starting war in Ukraine
11:15
Russian troops kill three Donetsk region residents, injure 13 more in one day
10:55
More than 100,000 people remain in Kherson, most of them elderly - City Council
10:35
Russian forces hit business premises during overnight Kharkiv shelling
10:15
Russian forces shell two  Dnipropetrovsk region districts, damaging houses, power line