US Treasury officials are proposing to introduce new sanctions against tankers that help export Russian oil by circumventing a price cap set for 2022. However, the move faces concerns from the White House.
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NYT: US Treasury Proposes Sanctions Against Russia’s ‘Shadow Fleet’
The New York Times writes about this. According to sources of the publication, the US presidential administration fears a possible increase in energy prices and damage to Joe Biden’s election campaign.
The Finance Ministry reportedly wants to “disable” Russia’s “shadow fleet,” which supposedly helps circumvent Russian oil price restrictions.
The White House, however, did not agree with the Treasury Department’s proposals, even though the analysis provided by officials shows that the risks of sanctions having a serious impact on the oil market are low.
As the New York Times explains, the debate pits the Treasury Department against the White House National Economic Council, headed by Lael Brainard. According to the newspaper’s sources, sanctions against the “shadow fleet” of the Russian Federation are still under consideration and will not be introduced in the near future.
The maximum price for Russian oil of $60 per barrel came into effect on December 5, 2022. The G7 countries, the European Union and Australia have agreed to purchase raw materials at a price not exceeding this.
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Author:
Akhmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
