Biden Administration Imposes Sweeping Sanctions on Russian Energy Sector

The outgoing administration targets Russia's oil and gas revenues in its most significant sanctions package to date, aiming to weaken Moscow's war capabilities in Ukraine.

The Biden administration announced a comprehensive sanctions package targeting Russia's energy sector, including over 180 oil tankers, major oil producers, and natural gas projects.
Officials estimate the sanctions could cost Russia billions of dollars per month, significantly reducing its ability to fund its war in Ukraine.
The sanctions target two major Russian oil companies, Gazprom Neft and Surgutneftegas, as well as Russia's shadow fleet of tankers used to evade previous restrictions.
This move, coordinated with the U.K., aims to enforce the $60 per barrel price cap on Russian oil and disrupt the Kremlin's energy trade networks.
The timing of the sanctions reflects favorable oil market conditions and a strategic effort to constrain Russia's economy before the incoming Trump administration takes office.