The Biden administration on Friday targeted Russia’s energy sector, including its oil industry, with some of its harshest sanctions to date meant to cut off funding for Moscow’s war against Ukraine.

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 U.S. Treasury imposed sanctions on Gazprom Neft and Surgutneftegas, which explore for, produce and sell oil as well as 183 vessels that have shipped Russian oil, many of which are in the so-called shadow fleet of aging tankers operated by non-Western companies. The sanctions also include networks that trade the petroleum.

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

Joe Biden is expected to unveil new sanctions targeting Russia's economy as part of measures to bolster Kyiv's war effort before Donald Trump takes office.

President Biden's administration says it's expanding sanctions against Russia's critically important energy sector over its war on Ukraine.

The US on Friday announced the most sweeping and aggressive sanctions yet on Russia’s oil trade, just ten days before Joe Biden leaves the White House to be replaced by Donald Trump as president.