The Biden administration is cracking down on the Russian “shadow fleet” and taking steps to curb oil and gas production.

The White House, now unconcerned about the effect on gas prices and inflation, blacklisted two of Russia’s biggest oil producers and nearly 200 tanker ships.

The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.

President Biden's administration says it's expanding sanctions against Russia's critically important energy sector over its war on Ukraine.

Biden administration officials say the sanctions are being imposed now because they are not likely to add to inflation

The Group of Seven democracies have sought to crimp Russia’s oil export earnings that help fund the war against Ukraine.

The steps come as the Biden administration was also readying $500 million in new military aid for Ukraine on Thursday that was set to include air defense missiles, air-to-ground munitions and support equipment for F-16 fighter jets,

The U.S. and Japan Friday imposed new sanctions on Russia, in moves designed to constrain Russia’s ability to continue funding its war on Ukraine. The U.S. sanctions, imposed through the Treasury Department and announced simultaneously through the State Department and the White House,

Biden administration announces expanded sanctions on Russia's energy sector as Trump prepares to address Ukraine conflict