Biden administration plans to toughen sanctions on Russian oil before Trump takes office — Bloomberg

The Biden administration is considering stricter sanctions on Russian oil, with plans to implement them before Donald Trump takes office, Bloomberg reports.

This marks a shift for the administration, which had previously avoided such measures over fears they could drive up global energy prices. However, with oil prices declining and Donald Trump returning to the presidency — and potentially pressuring Ukraine into a swift deal with Russia — the administration is now reportedly open to tougher actions.

Since Russia’s full-scale invasion of Ukraine began, the United States has banned imports of Russian oil. The proposed sanctions, according to Bloomberg, may target buyers of Russian crude as well as the shadow fleet of tankers transporting it.