Finance
Kremlin Says Russia Not Seeking to Undermine US Business in Cpc Oil Group
Published by Global Banking & Finance Review®
Posted on March 27, 2026
2 min readLast updated: March 27, 2026
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Kremlin insists Russia is not aiming to harm U.S. interests in the Caspian Pipeline Consortium despite expert calls to halt Kazakh oil flows, emphasizing Russia’s role in ensuring energy security amid Ukrainian drone threats.
Russia Maintains US Business Interests in Caspian Pipeline Consortium
Kremlin's Position on US Involvement and Sanctions
Official Statement from the Kremlin
MOSCOW, March 27 (Reuters) - Russia is not seeking to undermine U.S. business interests in the Caspian Pipeline Consortium (CPC), Kremlin spokesman Dmitry Peskov said on Friday.
Background on Sanctions and Expert Commentary
He was responding to a question about comments by several Russian experts, including on state TV, that Russia should ban oil supplies via the CPC from Kazakhstan in response to Washington's sanctions against Russia.
US Stake in the Caspian Pipeline Consortium
CPC, in which U.S. oil majors Chevron and ExxonMobil are large shareholders, exports its oil from a Russian terminal on the Black Sea.
Russia's Commitment to Energy Security
"In addition to American partners, there are also our Kazakh partners involved, and Russia remains a reliable guarantor of global energy security, despite everything," Peskov told a daily conference call with reporters.
Operational Challenges and Security Concerns
Impact of Ukrainian Drone Attacks
CPC, whose terminal is located near Russia's Black Sea port of Novorossiysk, was targeted by Ukrainian drones and has had to scale back its operations due to the attacks.
Accusations of Energy Blackmail
Peskov accused Ukraine of "energy blackmail" over the strikes, which he said were causing Russian, U.S. and Kazakh companies to suffer.
(Reporting by Dmitry Antonov. Writing by Vladimir Soldatkin. Editing by Mark Trevelyan and Mark Potter)
Key Takeaways
- •Russia emphasizes cooperative energy ties with U.S. and Kazakh stakeholders via the CPC, asserting it remains a stable guarantor of global energy security. (en.wikipedia.org)
- •Notable disruption stems from Ukrainian drone attacks on the CPC’s Novorossiysk terminal, prompting Russia to accuse Ukraine of energy blackmail affecting U.S., Russian and Kazakh firms. (euronews.com)
- •CPC is a critical export artery—handling over 80% of Kazakhstan’s oil, with major shareholders including Chevron and ExxonMobil—so stability of its operations is vital to global markets. (en.wikipedia.org)
References
Frequently Asked Questions about Kremlin says Russia not seeking to undermine US business in CPC oil group
1What is Russia's position on US business in the Caspian Pipeline Consortium?
Russia has stated it is not seeking to undermine US business interests in the CPC oil group, despite ongoing sanctions.
2Who are the main stakeholders in the CPC oil exports?
The main stakeholders include US oil majors Chevron and ExxonMobil, Kazakh partners, and Russian entities.
3Why was the CPC oil terminal scaled back recently?
Operations at the CPC terminal were reduced due to Ukrainian drone attacks near the Black Sea port of Novorossiysk.
4How has Russia responded to suggestions of banning Kazakhstan oil exports via the CPC?
The Kremlin rejected calls to ban Kazakh oil exports through CPC in response to US sanctions, emphasizing its reliability.
5What impact have the attacks on the CPC terminal had?
According to the Kremlin, the attacks have negatively impacted Russian, US, and Kazakh companies involved in CPC.