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Obama’s Stupid Sanctions Give Putin New Oil Bonanza

by F. William Engdahl, The News Doctors:

US President Barack Obama, or at least the warhawk neo-conservatives pushing him to war everywhere, are beginning to get hit with the boomerang of their stupid economic sanctions against Putin’s Russia. A few days ago, Russia’s largest oil company, state-run OAO Rosneft, headed by close Putin ally, Igor Sechin, announced discovery of a giant new oil field in Russia’s Arctic north of Murmansk. The stupid part comes from Obama’s decision to agree to impose sanctions on Sechin and his company and to prohibit US companies from doing business with them.

On September 27, in a joint announcement, Rosneft and US oil giant, ExxonMobil announced discovery of a huge new oil deposit, the Universitetskaya-1 well in the Kara Sea. For more than two decades Russian oil companies had dreamed of tapping what they believed were huge oil deposits in the Arctic.

Read More @ TheNewsDoctors.com

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