Fri Sep 20 10:11:09 UTC 2024: ## US May Tighten Sanctions on Russian Oil, Moscow Calls It “Pressure”
**Washington, D.C.** – The United States is considering further tightening sanctions on Russia’s oil sector, potentially impacting both oil transportation and supply limits, according to a senior US official. This move comes as a major source of revenue for Moscow remains its oil trade.
Daleep Singh, deputy national security adviser for international economics, indicated that the US is nearing a point where more stringent sanctions could be implemented. “I think we are getting close to the point at which we can talk about a much more strict regime,” Singh said in an interview with the Carnegie Endowment.
The potential for escalated sanctions has been met with defiance by Russian officials. Deputy Foreign Minister Sergey Ryabkov labeled the US plans as “political and psychological pressure” aimed at the Russian business community. He claimed that “threats and pressure are the only instruments left in the kit tool of American foreign policy.”
Ryabkov dismissed the impact of the sanctions, stating that “key parts of our energy sector have been under sanctions for a very long time” and that they are “absolutely illegitimate.”
The current sanctions regime, introduced by the G7 nations, includes a price cap on Russian oil and an embargo on seaborne exports. This aims to hinder Russia’s economy while ensuring continued supply of Russian crude to global markets.
The sanctions prohibit Western companies from providing insurance and other services for Russian oil shipments unless the oil is purchased at or below $60 per barrel, a price significantly lower than current market levels.
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