Washington imposes additional restrictions on Russia’s oil, gas and banking sectors.
The administration of US President Donald Trump is increasing sanctions against Russia, CBS News reports, citing sources.
The Trump administration is imposing additional restrictions on Russia’s oil, gas and banking sectors by further restricting Russia’s access to U.S. payment systems, according to four people.
The U.S. Treasury Department has revoked a license from the Biden administration that allowed certain transactions involving sanctioned Russian banks to continue. The banks will no longer have access to U.S. payment systems to conduct large energy-related transactions.
The following Russian institutions fell under the license: Vnesheconombank, Bank Financial Corporation Otkritie, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Bank Zenit, Bank Saint Petersburg and the Central Bank of Russia.
“The decision to further restrict access to the US banking system makes it more difficult for other countries to buy Russian oil, thereby limiting global supply. This could lead to a jump in oil prices of more than $5 a barrel, which is a significant jump after prices have fallen in recent weeks,” the article says.
It is noted that the strengthening of restrictions is also connected with the US administration’s attempt to convince Moscow to agree to the proposed 30-day ceasefire in the Russian war against Ukraine.
