US imposes wide-ranging sanctions on Russian oil sector

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The story "US imposes wide-ranging sanctions on Russian oil sector" was covered 14 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 14h ago

US imposes wide-ranging sanctions on Russian oil sector - Financial Times

Quick Summary:

As part of the package, the state department blocked two active Russian liquefied natural gas facilities, a large Russian oil project and foreign organisations supporting Russia’s oil exports.

It also noted that US inflation has dropped to within range of the Federal Reserve’s 2 per cent target.“To put it plainly, the context changed, and so the moment was ripe to change our strategy,” one senior Biden administration official said.

The last-minute move creates a challenge for President-elect Trump, who campaigned on ending the war between Russia and Ukraine quickly and has expressed scepticism of imposing additional sanctions, saying in September: “I want to use sanctions as little as possible.