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

The White House, now unconcerned about the effect on gas prices and inflation, blacklisted two of Russia’s biggest oil producers and nearly 200 tanker ships.

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 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.

In its final days, the Biden administration is again cracking down on Russia over its war with Ukraine, targeting the country’s production and exports of oil. The U.S. Treasury Department unveiled new sweeping sanctions on Russia’s energy sector Friday in an effort to reduce Moscow’s revenue from oil that has continued to be shipped by

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,

Washington on Fridayimposed some of its most sweeping sanctions on Russia’s oil industry since the full-scale invasion of Ukraine, targeting two Russian oil majors, as well as Russian oil executives,

The Biden administration announced Friday it was imposing what it billed as the most significant sanctions to date on the Russian energy sector, targeting Moscow’s oil and liquified natural gas (LNG) exports just weeks before leaving office.