US considering tougher sanctions against Russian oil

Biden has previously refrained from tightening sanctions over concerns that it would raise fuel prices in the US, especially during the election period.

The administration of US President Joe Biden is considering the possibility of introducing new tough sanctions against Russian oil. Bloomberg reports.

According to the material, Biden’s team is considering restrictions that may apply to the export of certain types of Russian oil. The change in the administration’s approach is associated with a decrease in world oil prices due to its surplus, as well as geopolitical risks. Specific details are still being discussed.

Biden has previously refrained from tightening sanctions over concerns that it would raise fuel prices in the US, especially during the election period. However, concerns about potential actions by Donald Trump, who may try to restore relations with Russia, have forced Washington to reconsider its strategy.

In addition, the US may introduce new sanctions against the so-called Russian shadow fleet. It is expected that new measures may be announced in the coming weeks.

One possible scenario involves the introduction of restrictions similar to those in force against Iranian oil. This approach involves sanctions on buyers of Russian oil. At the same time, this decision is risky, given that the main consumers of Russian raw materials are China and India, which have significant influence in international trade.

At the same time, as USM wrote, expanded US sanctions have affected oil trade between Iran and China.