Sanctions Conference: Banking and the Energy Sector, a Pivotal Year of Sanctions Transition

  • 9 July 2019
  • 09:10 - 18:30

The past year has seen increasingly punitive US measures against oil and gas producing countries, including Iran, Russia and Venezuela. This includes a continued US Congress focus on Russia's energy sector, including the Nord Stream 2 project, plus the administration's maximum impact campaign, which has included the non-renewal of Iranian oil waivers and the designation of Venezuela’s state oil company PDVSA. Whilst the impact of such measures may not be immediately dramatic, the longer-term sanctions implications for global energy markets may prove much more influential. In fact, when combined the upscaling of sanctions is likely to play a key factor in how and where businesses invest and magnifies compliance scrutiny across the whole energy infrastructure, including transportation, insurance, trading of energy commodities and project financing developments.