U.S. sanctions that target the Russian energy sector won’t do anything to influence the country’s crude oil production, the country’s energy minister said. The U.S. Office of Foreign Assets Control amended Russian sanctions with respect to the energy sector, blocking U.S. entities from helping with companies with “the potential” to produce oil in Russian territory or shale projects anywhere in the world. The amended list makes reference to projects “initiated on or after Jan. 29.” Russian Energy Minister Alexander Novak said Thursday the sanctions are nothing new, relate mostly to foreign projects where Russian companies have more than a 35 percent interest and deal only with new projects slated for a January start date. “On the whole, it […]