The Trump administration is contemplating increasing restrictions on Russia’s energy sector, particularly targeting oil production and exports, according to US special envoy Keith Kellogg. He mentioned that the current sanctions enforcement on Russia is not significantly impactful, rating it only about a three on a scale of one to 10.
Former President Joe Biden’s administration recently imposed sanctions on Russian oil and gas companies, including Gazprom Neft and Surgutneftegas. These restrictions were part of a larger package that also targeted individuals and entities involved in the energy industry.
Prior to this, President Trump had hinted at the possibility of imposing harsher sanctions on Russia unless progress was made in resolving the situation in Ukraine. Russian President Vladimir Putin has outlined specific conditions for addressing the conflict, including the withdrawal of Ukrainian troops from certain regions and a commitment from Kiev to refrain from joining NATO.
The geopolitical tensions between the US and Russia, particularly concerning Ukraine, continue to influence the discussions around sanctions and potential economic repercussions. The ongoing debate on the effectiveness of sanctions and the need for diplomatic resolutions underscores the complexity of international relations in this region.