New US Sanctions to Impact Russian Helium Trade Flow

In Sep'23, Russia commenced helium exports from its Amur Gas Processing Plant. However, in Sep'24, the EU imposed sanctions against Russia, thereby impacting the flow of Russian helium into the global market. Now, the US has announced a new set of sanctions by the Treasury’s Office of Foreign Assets Control (OFAC), further hindering Russia's ability to sell its helium. These comprehensive sanctions target key financial institutions, including Gazprombank, which is crucial in financing Russia’s helium trade, and over 50 other banks linked to Russia’s financial system. These measures greatly restrict Russia's access to the international financial system, possibly hindering helium exports. Although the US hasn't imported Russian helium recently, these restrictions may prevent other countries and operators from doing so to avoid violating US sanctions.

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