US announces sweeping sanctions on Russia’s energy sector, two Indian companies named

Washington: Russia's State Atomic Energy Corporation Rosatom has said the Biden administration's sanctions against it were "unlawful" and being seen as a form of unfair competition from unfriendly countries.

“Sanctions targeting Rosatom's management are regarded as unfounded and unlawful. Today, Rosatom is a global leader in the export of nuclear energy technologies, so the sanctions are seen as a form of unfair competition from unfriendly states," it said.

"For nearly three years, we have operated under growing sanctions pressure, adapting successfully and remaining prepared for any scenario. Rosatom continues to meet all its commitments to partners in full,” Rosatom said in a statement.

President Joe Biden's administration announced Friday that it's expanding sanctions against Russia's critically important energy sector, unveiling a new effort to inflict pain on Moscow for its grinding war in Ukraine as President-elect Donald Trump gets set to return to office vowing to quickly end the conflict.

Two Indian companies—Skyhart Management Services and Avision Management Services— and senior officials from Rosatom which specialises in nuclear energy, nuclear non-energy goods and high-tech products were among the over 150 entities and individuals, including major Russian oil producers Gazprom Neft and Surgutneftegas, Russian insurance companies, and shadow fleet vessels, were imposed with restrictions.

Officials said the sanctions, which punish entities that do business with the Russians, have the potential to cost the Russian economy upward of billions of dollars per month.