Measures targeting Russian energy sector attempt to leverage peace deal for Ukraine in Trump administration
The Biden administration on Friday imposed its broadest package of sanctions yet targeting Russia’s oil and gas revenues in an attempt to give Kyiv and the incoming administration of Donald Trump leverage to reach a deal for peace in Ukraine. The move is meant to cut Russia‘s oil revenues for the war that started in February 2022, and has killed or wounded tens of thousands and reduced cities to rubble.
National Security Council spokesperson John Kirby said the timing of the was chosen because “oil markets are in a fundamentally better place” and the US economy is better positioned to absorb any market disruption.
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