How the EU’s latest sanctions could halt Russia’s Arctic oil plans
The EU's 6th package of sanctions will likely put a stop to millions of tons of oil shipped through Russian Arctic waters.
When Russian oil company Gazprom Neft in 2016 launched its Arctic Gate terminal in the Gulf of Ob, it seemed beyond imagination that Russian oil only few years later would be barred from the EU. The new infrastructure built in the harshest Arctic climate had the capacity to deliver more than 10 million tons of oil per year and was designed for exports to European consumers.
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