Biden Administration Plans More Sanctions on Russian Oil Exports

The Biden Administration is set to slap more sanctions on Russia’s oil exports by targeting tankers hauling Russian crude and products, sources familiar with the outgoing administration’s plans have told Reuters. “It is going to be a big package,” one of Reuters’s sources said. The current Administration plans to target vessels that carry Russian oil above the $60 per barrel price cap that Western allies have imposed on Russian crude and petroleum products. The scope of the upcoming sanctions is expected to include…