US Intensifies Sanctions on Russian Oil: Market Reactions and Global Impact

Post Views: 428 US Intensifies Sanctions on Russian Oil Sanctions Target Russia’s Oil Giants, Sending Oil Prices Soaring The Biden administration has ramped up its sanctions on Russia’s oil industry, focusing on major oil producers like Gazprom Neft and Surgutneftegas. These new measures, announced on Friday, aim to cut off key financial resources that support Russia’s military activities in Ukraine. The sanctions also target Russia’s use of shadow fleets and opaque traders that have helped sustain its oil exports despite previous restrictions. US Treasury Secretary Janet Yellen emphasized tha...