By Stephen Levy
The sanctions against
Russia has at least done significant damage to Rosneft, Russia's major oil
producer, reports Fox
Business. Rosneft has had unrelated difficulties with existing
oil fields, and requires significant financing to invest in new fields and
techniques. In perhaps a model of Russia's plans to protect firms against
future sanctions, Prime Minister Medvedev pledged government financing and
support for the company. However, the lack of funding from the U.S. and E.U.
may hurt Rosneft's chances to advance its knowledge of cutting-edge extraction
techniques.
