U.S. discusses new sanctions against Russian oil industry

The United States and its allies in the West are discussing the possibility of introducing new sanctions against the Russian oil industry, in particular, price restrictions on petroleum products.

This week US Treasury Department officials are holding meetings in Europe. They are discussing the details of the upcoming restrictive measures against petroleum products from Russia.

The sanctions would take effect on February 5.

The publication’s sources noted that two price caps on Russian oil products are planned to be introduced: one will affect high-value export goods, such as diesel fuel, and the other will affect low-value goods, such as fuel oil.

According to The Wall Street Journal, a senior U.S. official, Ben Harris, will visit Latvia, Lithuania, Estonia and Poland this week to discuss sanctions and the price cap.