INSTANT VIEW 2-Russia sanctions European gas companies, Polish part of gas pipeline

The moves followed Russia's invasion of Ukraine in February and it comes as the European Union considered an embargo of Russian crude. COMMENTS: JAMIE WEBSTER, FELLOW AT COLUMBIA UNIVERSITY’S CENTER ON GLOBAL ENERGY POLICY: "The (sanctions) make sense as Europe figures out if it's going to stop taking crude and products from Russia, which hits Russia from a revenue standpoint.

Russia has imposed sanctions against units of Gazprom Germania, in which its gas producer Gazprom ceded ownership, and also against EuRoPol GAZ SA, owner of the Polish part of the Yamal-Europe gas pipeline.

BACKGROUND: The United States and its allies have imposed the most severe sanctions in modern history on Russia and Moscow's business elite, steps that Russian President Vladimir Putin casts as a declaration of economic war. The moves followed Russia's invasion of Ukraine in February and it comes as the European Union considered an embargo of Russian crude. COMMENTS: JAMIE WEBSTER, FELLOW AT COLUMBIA UNIVERSITY'S CENTER ON GLOBAL ENERGY POLICY: "The (sanctions) make sense as Europe figures out if it's going to stop taking crude and products from Russia, which hits Russia from a revenue standpoint. With gas, it is painful for Europe. Effectively, they're each picking what is going to cause the most economic pain on the other, but the least economic pain on themselves. "The big issue is going to be, as we move into the northern winter, how the economies are going to cope with this because it is difficult to find those additional molecules of natural gas." ANDREW LIPOW, PRESIDENT OF LIPOW OIL ASSOCIATES IN HOUSTON "This is a tit-for-tat reaction from Russia. I believe that the Europeans will come up with some workarounds, establishing new entities or subsidiaries that are not on the sanctions list. But this shows that the energy divorce between Europe and Russia is becoming more bitter." (Reporting By U.S. Energy Desk)

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