The Biden administration on Friday unveiled new financial sanctions targeting Russia’s energy industry, a final bid to weaken Vladimir Putin’s war effort before President-elect Donald Trump takes office in the coming days.
The package of sanctions imposes far-reaching restrictions against major Russian oil producers, ships that carry Russian oil to other countries and banks that facilitate Russian energy transactions. If enforced, the sanctions could deprive Russia of billions of dollars each month, according to administration officials.
The effort to squeeze Russia’s oil revenues in the waning days of Biden’s presidency ratchets up pressure on Moscow as Trump takes office. Administration officials said the move was aimed at giving the Trump administration and Ukrainian government a stronger hand heading into any talks with Putin over ending the war.
“These actions together provide the next administration a considerable boost to their and Ukraine’s leverage in brokering a just and durable peace,” a senior Biden administration official told reporters.
