Biden Administration Imposes Sweeping Sanctions on Russian Oil Industry

The sanctions target major oil producers, shadow fleet tankers, and traders in an effort to weaken Russia's war financing as Biden's presidency nears its end.

The United States has introduced its most extensive sanctions yet on Russia's oil sector, targeting two major oil producers, 183 tankers, and traders linked to Russian oil exports.
The sanctions aim to disrupt Russia's energy revenue, which accounts for over a third of its federal budget and has been critical in financing its ongoing invasion of Ukraine.
Britain joined the U.S. in sanctioning Gazprom Neft and Surgutneftegas, which collectively ship nearly 1 million barrels of oil daily, representing a significant portion of Russia's exports.
India and China, key buyers of Russian oil, face potential trade disruptions as sanctioned vessels and traders are barred from ports and markets, raising concerns about global oil supply stability.
The measures, announced days before Donald Trump takes office, are seen as a move to strengthen Ukraine's position and provide leverage for future negotiations to end the war.