In its final days, the Biden administration is again cracking down on Russia over its war with Ukraine, targeting the country’s production and exports of oil. The U.S. Treasury Department unveiled new sweeping sanctions on Russia’s energy sector Friday in an effort to reduce Moscow’s revenue from oil that has continued to be shipped by

The White House, now unconcerned about the effect on gas prices and inflation, blacklisted two of Russia’s biggest oil producers and nearly 200 tanker ships.

Washington now has freer hand in restricting Russian oil amid predictions of a global glut.

President Joe Biden's administration announced Friday that it's expanding sanctions against Russia's critically important energy sector, unveiling a new effort to inflict pain on Moscow for its nearly 3-year-old war in Ukraine as President-elect Donald Trump gets set to return to office vowing to quickly end the conflict.

With just ten days left until President-elect Trump takes office, President Biden has imposed today the most significant sanctions to date on Russia’s energy sector, targeting key players in the Kremlin’s oil revenues.