The three companies are already subject to EU restrictions on loans and debt financing. Under the new package to be discussed later on Monday by EU top diplomats, they will also face an investment ban, which is expected to freeze their funding from sources in the EU in new production and exploration projects in all fossil fuels.
"We will propose a big ban on new European investments across Russia's energy sector," the head of the EU Commission Ursula von der Leyen said on Friday pre-announcing the sanctions but without indicating the targeted companies. Many EU governments requested carve outs that would allow EU companies to pay their bills to the Russian majors and continue buying their oil, the source said.
Keep buying Russian oil you hypocrites. How about Russian fertilizer? Politicians and the news media supporting them to posture for the public.