US Ramps Up Pressure on Russia With Fresh Energy Sanctions (2)

The US imposed its most aggressive sanctions on Russia’s oil industry yet as the Biden administration looks for last-minute ways to boost Ukraine’s leverage in possible peace negotiations after Donald Trump takes office.

The measures announced Friday targeted two firms that handle more than a quarter of Russia’s seaborne oil exports, as well as vital insurers and traders linked to hundreds of cargoes. The US also broadened sanctions on tankers that have already proved disruptive.

In a statement, Treasury Secretary Janet Yellen said the moves are aimed at “ratcheting up the sanctions risk associated with Russia’s oil trade, including shipping ...