The Biden administration is cracking down on the Russian “shadow fleet” and taking steps to curb oil and gas production.

Biden administration officials say the sanctions are being imposed now because they are not likely to add to inflation

The United States and Britain on Friday announced sanctions against Russia's energy sector, including oil giant Gazprom Neft, just days before outgoing President Joe Biden leaves office. - Strong economy influenced timing - Friday's announcement comes just 10 days before US President Biden is due to step down,

The United States on Friday imposed sweeping sanctions on Russia's energy sector to try to limit funding for Moscow's war in Ukraine. The sanctions target two of Russia's largest oil companies, Gazprom Neft and Surgutneftegas,

The U.S. Treasury Department is sanctioning Russian oil companies, tankers, officials and executives. Oil prices jumped on worries that crude supplies would face disruptions. Oil prices jumped on Friday as the U.

Since Russia’s invasion of Ukraine in 2022, the U.S. has carefully calibrated its sanctions of the Russian energy sector, fearing a sharp rise in global oil prices and the cost

The US has imposed sanctions on over 30 Russian oil service companies. At the same time, restrictions have also affected a Serbian company linked to Gazprom Neft, according to the US government website and the US Department of the Treasury.

The Biden administration's new sanctions target Russia's oil giants Gazprom Neft and Surgutneftegas, shadow fleet vessels, and opaque traders. Oil prices surged, while European equities slid as investors fear tighter global supply.