Gazprom Neft’s shares on the Moscow Stock Exchange rose about 4.4 percent and traded near 620 rubles a share after the US Treasury announced new sanctions against the company, according to market data.
On January 10, the US Treasury imposed sanctions on nearly 100 ships transporting hydrocarbons from Russia, along with vessels linked to Sovcomflot and Gazprom Neft.
Thirty Russian entities were placed under restrictions as part of the move, including OFS Technologies, Achimgaz, Gazprom Shelfproekt, Atlas NNB, FrakJet-Volga, Investgeoservice, Naftagaz-Burenie, Petro Welt Technologies, TNG-Group, UDS Neft and other oil services firms.
John Kirby, the White House National Security Council Strategic Communications Coordinator, stated that the sanctions triggered price movements in markets, while noting that the latest restrictions are not expected to have a meaningful impact on the global oil market or the US economy.
Earlier commentary by economists highlighted the potential consequences of new sanctions against Russia, and observers say the actual effect will depend on market adaptation, supply chain responses, and how oil companies adjust to the expanded restrictions.