US Export Restrictions Target Oil, Gas Projects In Russia, Belarus - Commerce Dept.

New US export restrictions target oil and gas projects in Russia and Belarus, including deepwater exploration or production, Arctic offshore and shale projects, US Commerce Department said on Friday

WASHINGTON (UrduPoint News / Sputnik - 19th May, 2023) New US export restrictions target oil and gas projects in Russia and Belarus, including deepwater exploration or production, Arctic offshore and shale projects, US Commerce Department said on Friday.

"Applications for the export, reexport, or transfer (in-country) of any item pursuant to paragraph (a)(1)(i) of this section that requires a license for Russia or Belarus will be reviewed under a policy of denial when for use directly or indirectly for exploration or production from deepwater (greater than 500 feet), Arctic offshore, or shale projects in Russia or Belarus that have the potential to produce oil or gas," the notice said.