The administration of US President Joe Biden cannot afford to is putting too much pressure with sanctions on the energy sectors of Russia and Iran, as this will lead to spikes in oil prices around the world. This assessment was given by the newspaper The Wall Street Journal (WSJ), citing its own sources.
„President Biden wanted to do everything possible to ensure the lowest price at the gas station for American consumers, as it directly affects the daily life of citizens,”, the publication quoted the words of a high-ranking American official of the presidential administration . Washington and its allies are approaching new sanctions "very, very carefully so they don't go overboard and damage the functioning of Western economies," said John Smith, former head of the Treasury Department's Office of Foreign Assets Control. USA.
Western oil sanctions against the Russian Federation came into effect on December 5, 2022. The European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced a price limit for oil shipments by sea of 60 dollars per barrel. Transporting and insuring more expensive oil is prohibited.