Biden is preparing new sanctions against tankers carrying Russian oil – Reuters

Reuters, citing sources, has learned that the Joe Biden administration plans to introduce additional sanctions against Russia, targeting its oil revenues through actions against tankers carrying Russian oil.

Source: “European truth” with reference to Reuters

Details: The Biden administration plans to impose sanctions on tankers carrying Russian oil that sells above the Western price of $60 a barrel, according to sources. Russia uses a so-called shadow fleet of old ships to circumvent the restrictions. Many of these vessels are less safe and prone to oil spills, shipping experts say.

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After Russia invaded Ukraine in February 2022, the US imposed sanctions on dozens of such ships from a fleet estimated to number in the hundreds to reduce its ability to finance the invasion.

“It will be a big package,” one of the sources said. Another source said the sanctions are likely to also include measures against individuals involved in some networks that trade oil at prices above the cap.

President Joe Biden’s administration is trying to boost support for Ukraine before President-elect Donald Trump takes office on Jan. 20, given the Republican leader’s frequent complaints about the cost of U.S. support for Ukraine.

It is currently unclear what Trump’s approach to sanctions against Russia will be.

US Treasury Secretary Janet Yellen told Reuters last month that the US was considering further sanctions on tankers and would not rule out sanctions against Chinese banks as it seeks to reduce Russia’s oil revenues and limit its access to foreign supplies. to support the war in Ukraine.

Prehistory:

• Earlier it became known that Joe Biden’s administration is discussing the possibility of introducing new “serious sanctions” against the Russian energy sector before the end of his term.
• Before that, Bloomberg reported that the Group of Seven countries were discussing a possible reduction in the so-called price ceiling for Russian oil transported by sea in order to limit Russia’s oil revenues.
• We will also remind you that on December 16, the EU adopted the 15th package of sanctions against Russia, designed to counteract the circumvention of sanctions by targeting the Russian “shadow fleet” and to weaken the Russian military-industrial complex.