Empty Threats: US Cannot Hurt Russia's Energy Sector

The United States' options to attack Russia's energy sector are very limited.

The United States often threatens Russia with more restrictive measure over Moscow's alleged role in the Ukrainian conflict, but its options to attack Russia's energy sector, the main target of Western sanctions, are very limited.

The West has already imposed restrictions on the "easiest targets" in Russia's energy sector, including the Arctic, Siberian oil and deep-sea projects.

However, oil exports could be the next possible target of US sanctions. But European countries are dependent on Russian gas and are vehemently opposed to the idea. They believe that any restrictions placed on Russia's oil exports will immediately lead to a fall in gas exports to Europe.

The United States is in no position to adopt such measures without support from Europe, "since it would block US energy companies from collaborating with Russia and let European ones in," Reuters pointed out.

Powerful voices within Europe are against imposing new sanctions on Russia. Italy, Spain, Greece, Hungary and other European nations have spoken in favor of lifting what they see as counterproductive measures hurting their economies.

Last week, the European Council agreed that economic sanctions against Russia will remain in place and will be linked to the implementation of the Minsk agreements. Moscow has repeatedly denied its involvement in the Ukrainian crisis, instead calling for dialogue and peaceful resolution of the conflict.

The United States could also target Russian shale oil drilling but that would be to no avail, since unconventional oil production is only in its early stages in Russia. "And beyond energy technology, the United States and Europe simply do not have much that Russia needs," Reuters said.