Biden Administration Expands Sanctions on Russia

The Biden administration has announced its most extensive sanctions package against Russia's oil and gas sectors, aimed at crippling the Kremlin's revenue stream amid the ongoing war in Ukraine. Targeting over 180 oil-carrying vessels and major producers such as Gazprom Neft and Surgutneftegas, the sanctions are designed to affect every stage of oil production and distribution, potentially costing Russia billions monthly. This initiative comes as President-elect Donald Trump prepares to take office, promising a quick resolution to the conflict but facing scrutiny over his past relations with Putin. British officials are implementing complementary sanctions, further intensifying pressure on Moscow. The sanctions reflect a shift in Biden's strategy, which previously sought to balance domestic oil prices with foreign policy objectives. Ultimately, the decision to maintain these sanctions will lie with the incoming Trump administration, which has yet to clarify its stance.