US considers ‘package’ of sanctions against Russian oil

President Joe Biden’s administration is considering implementing more severe restrictions on Russian oil sales, similar to sanctions already imposed on Iranian oil, according to information released by Bloomberg.

The new measures could soon be announced and also target buyers of Russian oil, including nations such as India and China.

According to Bloombergthe introduction of these sanctions is “fraught with risk” due to the potential to cause a rise in oil prices and, consequently, global economic tension.

These countries, considered “powerful” consumers of Russian oil, could be directly impacted by the restrictions, increasing the complexity of international relations and the challenges to global economic stability.

Additionally, the US government is looking at the possibility of imposing sanctions against the “tanker fleet” that is believed to be transporting Russian oil. These additional measures would aim to further disrupt Russia’s ability to trade its oil on the international market.