America Tightens Grip on Russia’s Energy with New Sanctions

On Friday, the United States introduced new sanctions aimed at Russia’s energy sector and its so-called "shadow fleet" of oil tankers. This move is seen as a last-ditch effort by the Biden administration to weaken the Russian economy in response to Moscow’s conflict in Ukraine. President Biden has been careful in imposing energy sanctions due to fears of global gasoline price hikes. However, with improved global oil supplies and reduced inflation, the administration believes it’s time to put more pressure on Russia. Though Western allies have tried to hurt Russia’s economy with sanctions, the country has resisted the drastic collapse many economists forecasted. The Biden administration’s moves will put the ball in the Trump administration’s court to enforce these sanctions. While officials did not confirm discussions with President-elect Trump’s transition team, they expect these measures to give the next administration more tools to end the war.

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