The ‘bill from hell’ of hard-hitting sanctions against Russia that U.S. Senators introduced earlier this month is unlikely to have a wide-ranging impact on Russia’s oil industry, analysts and economists tell Reuters . Since the United States slapped sanctions on Russia in 2014 over the Crimea annexation, Russian oil firms have drastically cut their exposure to Western bank funding, but this simply increased Russia’s reliance on domestic drilling and Moscow-derived oil field technology in its attempt to reduce Moscow’s dependence on imported technology. The latest bill that U.S. Senators from both parties introduced on August 2 contains proposals for wide-ranging sanctions , including on goods, services, technology, financing, and support that currently directly and significantly contributes to Russia’s ability to develop crude oil resources located in the Russian Federation. According to Russia-based analysts who spoke to Reuters, the oil industry would only see limited impact if those sanctions are […]