U.S. sanctions set to slow Rosneft's dollar debt, not oil deals


  • World
  • Thursday, 17 Jul 2014

NEW YORK (Reuters) - President Barack Obama aimed a direct blow at Russia's economic heart on Wednesday with sanctions on Rosneft, the flagship oil giant that generates more than 4 percent of the world's crude and over 8 percent of the country's GDP.

But in a change of tack from previous similar efforts, the measures were narrowly tailored to slowly starve the state-run energy firm of U.S. dollar funding, not bar it from doing business with oil buyers such as BP or stymie multibillion-dollar ventures with firms like ExxonMobil, experts say.

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