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U.S., Allies Prepare Fresh Sanctions on Russian Oil Industry

Posted on AllSides January 11th, 2023
From The Center
Energy, US Sanctions, Russia, Oil

Treasury officials are in Europe this week discussing price caps that go into effect next month.The U.S. and its allies are preparing their next round of sanctions on Russia’s oil industry, aiming to cap the sales prices of Russian exports of refined petroleum products in a step some market watchers warn could squeeze global supply. 

In meetings across Europe this week, Treasury officials are discussing the details of the coming sanctions on Russian oil products, which are set to go into effect on Feb. 5. The penalties will set two...

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