Putin is in tough shape: Biden slaps last-minute sanctions on Russian companies, Rosatom reacts

The outgoing Biden administration has slapped last-minute sanctions on Russia, which is claimed to target its energy sector. The US sanctions are targeted against several companies and entities that were allegedly helping Russia in its export of energy.

In what can be termed as a last-minute action, the Biden administration on Friday decided to impose massive sanctions on Russia, which is intended to target Moscow's energy sector and to assist Ukraine in maintaining its independence in conflict with Russia. The US sanctions cover several companies and entities that were allegedly helping Russia in its export of energy, particularly gas, which also include two companies from India. 

In response to a question on sanctions, President Biden said, "The sanctions are imposed today because they will have a profound effect on the growth of the Russian economy and make it more difficult for Putin to conduct his wars." 

Biden attacks Putin

Biden added, "It is probable that gas prices could increase as much as USD 0.03 to USD 0.04 a gallon, but that’s going to have a more profound impact on Russia’s ability to continue to act in the way it’s acting in the conduct of war." 

Saying that the Russian President is in 'tough shape,' Biden asserted, "I think it’s really important that he does not have any breathing room to continue to do the God-awful things he’s continuing to do. As I said, he’s got his problems economically, significant problems economically, as well as politically at home." 

Rosatom reacts on sanctions

Russia's State Atomic Energy Corporation Rosatom, in a swift response, has termed the sanctions as "unlawful." In a statement, Rosatom said, "Sanctions targeting Rosatom's management are regarded as unfounded and unlawful.

Today, Rosatom is a global leader in the export of nuclear energy technologies, so the sanctions are seen as a form of unfair competition from unfriendly states." 

Moreover, the sanctions include two Indian companies, namely Skyhart Management Services and Avision Management Services. The sanctions majorly targeted senior officials from Rosatom, which specialises in nuclear energy, nuclear non-energy goods, and high-tech products. It also involved Russian oil producers Gazprom Neft and Surgutneftegas, Russian insurance companies, and shadow fleet vessels.

(With inputs from AP)

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