US may toughen sanctions on Russian oil exports — Bloomberg

  NEW YORK:  The outgoing administration of US President Joe Biden may soon announce toughening of US restrictions on Russian oil sales, Blo...

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NEW YORK:  The outgoing administration of US President Joe Biden may soon announce toughening of US restrictions on Russian oil sales, Bloomberg reported citing own sources.

According to the report, Washington currently mulls the possibility of sanctions similar to the ones currently imposed on Iranian oil. In this case, restrictive US measures will also target buyers of Russian oil. The move is "fraught with risk," Bloomberg said, because consumers of Russian oil include "powerful countries" such as India and China. As a result, such limits could spike oil prices, causing global economic strain, the report says.

Besides, the US administration is also looking into the possibility of imposing sanctions on "tanker fleet" allegedly transporting Russian oil, Bloomberg wrote.

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