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Biden Management represses Russia’s “shadow fleet” and takes steps to curb oil and fuel production.
By Alan Rappeport
Reporting from Washington
The United States on Friday announced new sanctions targeting Russia’s energy sector and its “shadow fleet” of oil tankers in what could be a final attempt by the Biden administration to cripple the Russian economy in response to Moscow’s war in Ukraine.
President Biden has been cautious in his approach to sanctions on Russia’s energy sector out of concern that shutting off its exports would send gasoline prices surging around the world. But U.S. officials said healthier global oil supplies and the easing of inflation presented an opportunity to exert more pressure on Russia’s oil industry as the war approaches its fourth year.
Despite a coordinated effort by Western allies to economically punish Moscow for its actions, the Russian economy has avoided the collapse that many economists predicted.
The Biden administration’s moves will put the burden on Trump’s management to enforce sanctions. Ten Biden administration officials dismantled when asked if the sanctions had been discussed with President-elect Donald J. ‘s transition team. But they said they hoped the measures would provide the next administration with leverage on Russia to negotiate an end to the war.
“The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine,” Treasury Secretary Janet L. Yellen said in a statement. “With today’s sanctions, we are ratcheting up the sanctions risk associated with Russia’s oil trade, including shipping and financial facilitation in support of Russia’s oil exports.”
On Friday, oil costs jumped before the announcement of sanctions amid the considerations that new restrictions, as well as bad weather in the United States and forest fires in California, can force global feeding.
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