The U.S. sanctions on Russia have affected investment in Russian oil and gas exploration projects, U.S. officials say, while Congress is considering further sanctions on the energy and banking sectors to punish Moscow for the threat it poses to the United States. At Senate hearings on Tuesday, a Treasury official said that U.S. sanctions have curtailed investment in Russian oil and gas exploration projects necessary to grow Russia’s production. Senators and witnesses who provided testimony discussed the impact of the sanctions, and Senator Mike Crapo (R-Idaho), the Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs that held one of the hearings, said that if Vladimir Putin doesn’t change his behavior, sanctions would “likely remain in place until he’s no longer in power and Crimea is returned.” Since January 2017, the current U.S. Administration has sanctioned 217 Russian-related individuals and entities for a broad range […]