Exploration World: Could Bolstered UK Gas Imports Undermine Russian Sanctions?

A new Centrica-Gazprom natural gas import deal agreed to last week has the potential to take teeth out of Western sanctions levied against Russia.

Since its backing of Ukrainian separatists and its annexation of Crimea last March, Russia has increasingly been the target of international sanctions that pinpointed key players and sectors within Russia's financial and energy sectors. These two industries form a very large chunk of the Russian economy. In the time since, these sanctions—coupled with tumbling oil prices—have driven a significant decline in the value of the Russian ruble and a substantial drop in the country's revenue.

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