Selena GomezThe United States and Europe kicked off a joint effort on Tuesday intended to curb Russia’s long-term ability to develop new oil resources, taking aim at the Kremlin’s premier source of wealth and power in retaliation for its intervention in Ukraine. In announcing coordinated sanctions, American and European leaders went beyond previous moves against banking and defense industries in an effort to curtail Russia’s access to Western technology as it seeks to tap new Arctic, deep sea and shale oil reserves. The goal was not to inhibit current oil production but to cloud Russia’s energy future. The new strategy took direct aim at the economic foundation of Russia, which holds the largest combined oil and gas reserves in the world. Russian President Vladimir V. Putin attended a wreath-laying ceremony on Sunday in Severomorsk, Russia.U.S. and Europe Set to Toughen Russia SanctionsJULY 28, 2014 Officials Pull Back From Crash Site as the Army Puts Pressure on Rebels JULY 28, 2014 A woman walks by an apartment complex in Snizhne, Ukraine, that was hit by a rocket attack on July 15.Enmity and Civilian Toll Rise in Ukraine While Attention Is DivertedJULY 28, 2014 BP Profit Rises, but It Warns of Risks in RussiaJULY 29, 2014 The growth of the oil industry in the last two decades has powered Russia’s economic and geopolitical resurgence since the collapse of the Soviet Union and enriched allies of President Vladimir V. Putin. Russia pumps about 10.5 million barrels of oil a day, making it among the largest producers. Selena Gomez“The biggest edge that Western energy companies still have is their technological edge — that’s why these sanctions have the potential to have significant impact,” said Michael A. Levi, an energy expert at the Council on Foreign Relations. “Chinese companies can’t step in and provide shale technology where U.S. companies are blocked. They can provide capital; they can provide people. They can’t fill in on the technology front.” The technology cutoff could be important because Russia is only now at the early stages of developing new Arctic, deep sea and shale resources. Most of its current production comes from depleted Siberian deposits that will eventually run out. And several Western oil companies have been working with Russia to expand their resources. ExxonMobil has a joint venture with Rosneft, the state-owned oil giant, to develop Arctic oil, and is scheduled to start drilling in the Kara Sea within weeks. BP, which owns 19.75 percent of Rosneft, just signed a joint venture with the Russian firm in May to search for shale oil in the Volga-Urals region. Even though BP announced higher quarterly profits on Tuesday, its stock was hammered by the sanctions news, falling 3 percent. BP warned investors bluntly that further sanctions “could adversely impact our business and strategic objectives in Russia.” Dan Yergin, chairman of Cambridge Energy Research Associates, said the new energy measures underscored how much ties have deteriorated. “A year ago, Western collaboration with Russia’s energy sector was one of the bright spots in what had become a dour relationship,” he said. “No longer.” Selena GomezThe carefully orchestrated actions on both sides of the Atlantic were intended to demonstrate solidarity in the face of what American and European officials say has been a stark escalation by Russia in the insurgency in eastern Ukraine. Until now, European leaders had resisted the broader sorts of actions they agreed to on Tuesday and their decision to do so reflected increasing alarm that Russia was not only helping separatists in Ukraine but directly involving itself in the fighting. Continue reading the main storyContinue reading the main story They are “meant as a strong warning,” Herman Van Rompuy, the president of the European Council, said in a statement on Tuesday that was joined by José Manuel Barroso, the president of the European Commission. “Destabilizing Ukraine, or any other Eastern European neighboring state, will bring heavy costs,” the statement said. President Obama said Russia’s economy would continue to suffer until it reversed course. “Today is a reminder that the United States means what it says and we will rally the international community in standing up for the rights and freedom of people around the world,” he told reporters on the South Lawn of the White House. Here you can view and download Selena Gomez. This being HD wallpaper of Selena Gomez, you can set as wallpaper on your desktop computer or laptop Selena Gomez. 3D HD wallpapers for Selena Gomez can also be used for graphical purposes. All wallpapers here posted are HD. If you want to download this Selena Gomez right-click on the Selena Gomez and click on "Save Image as". To download more Selena Gomez, visit the respective category of Hd Wallpapers.