The US plans to introduce additional sanctions against Russia and cut its revenues for the war in Ukraine. The target will be tankers carrying Russian oil. It is reported Reuters.
President Joe Biden's administration is seeking to increase support for Ukraine before President-elect Donald Trump takes office on January 20, given the Republican leader's frequent complaints about the cost of US support for Ukraine. It is still unclear what Trump's approach to sanctions against Russia will be.
Sources said the Biden administration is planning sanctions against tankers carrying Russian oil sold at a price higher than the Western-imposed limit of $60 a barrel. Russia used this so-called shadow fleet of aging vessels to circumvent the limit. Many of the vessels are less safe and prone to oil spills, shipping experts say.
Following Russia's invasion of Ukraine in February 2022, the US imposed sanctions on dozens of such vessels from a fleet estimated to number in the hundreds to curtail its ability to finance the invasion.
Because of the restrictions, Russia has redirected its oil sales to China and India, which have been willing to buy Russian crude oil, which is usually sold at a discount compared to the general market, even if it sells at a price above the limit.
"It's going to be a big package," - said one of the sources. Another source said the sanctions are likely to also include measures against people involved in some networks that trade oil above the set price limit.
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