‘US restrictions on energy companies working in Russia act to their detriment’

Russian President Vladimir Putin. (File Photo: IANS)

Moscow, Oct 30 (IANS) Russian President Vladimir Putin said that the US is acting to the detriment of its companies by limiting their work in the energy sector in Russia.

“Unfortunately, for political reasons, the US administration is now restricting the work of the US companies. To their own detriment, I must say. But this is not our decision,” Putin said at the “Russia Calling” investment forum on Thursday, Xinhua news agency reported.

Putin noted that when it comes to the hydrocarbon sector, Russia is always open to new ideas and proposals. He explained that companies from all over the world including the United States are working in the Russian hydrocarbon sector.

He emphasized that Russia is ready to work with US, European and Asian companies, expressing the hope that they will continue to have a significant presence on the Russian market.

“Our task is to ensure the protection of their investments and the effective use of their invested funds,” Putin said in relation to the foreign companies.

The president also informed of large projects that Russia is planning in the Arctic region and in Eastern Siberia, further expressing the certainty that this can potentially be very interesting to Russia’s partners.

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