The US limitations are tougher, than the European Union’s ones, which last week banned delivery of technology for deep oil production, development of Arctic shelf and development of shale oil into Russia. In particular, the US Department of Commerce defined the deepwater projects as the projects on the depth of over 500 feet (152.4 meters), which is not deep for the oil industry. The EU sanctions did not define “deepwater.”
The EU authorities will refuse to deliver certain types of products to Russia, if there are “reasonable grounds” to believe that these products will be used in the projects of deep-water exploration and extraction of oil, development of oil fields on the Arctic shelf or shale oil production. The US Department of Commerce introduced the similar policy, but added that of the exporter is unable to define the projects where the equipment will be used, it will not be granted a license.
The new US rules mentioned natural gas (European Union took the gas projects out of the sanctions). The US will introduce the export control over certain products “used for deepwater (deeper than 500 feet) exploration and production, offshore arctic or shale projects with the potential of oil or gas extraction in Russia.” The licenses for export of equipment, which could be used for such gas projects, will be considered on the basis of each concrete case.
