The Biden administration's time is almost up, but in its final days it has taken decisive action on Russian oil, President Vladimir Putin's key revenue source.

On January 10, the White House announced severe sanctions on Russia's oil sector, blacklisting almost 200 vessels from its so-called shadow fleet and targeting the Russian oil producers Gazprom Neft and Surgutneftegas.

Moscow has largely found ways to get around the oil-price-cap sanction — which uses various mechanisms to limit the price of a barrel of Russian oil to $60 (€58.20) — since it was introduced at the end of 2022. However, analysts are encouraged by the new developments.

Craig Kennedy, an independent Russian expert currently working at the Davis Center for Russian Studies at Harvard University, told DW that the latest measure is "a painful blow" for Russia. "It means that some of the vessels they thought they could rely on are going to have to be laid up in harbors around the world and will no longer be useful," Kennedy said.

Benjamin Hilgenstock, of the Kyiv School of Economics, told DW that the news is a "very welcome development," but said such pressure must to be maintained. "Coalition countries need to continue sanctioning shadow tankers until the shadow fleet is history," Hilgenstock said.

Crude oil prices hit their highest........

© Deutsche Welle