The Biden administration is set to announce new measures to raise the cost of Russia’s attempts to skirt a limit set on the price for its oil, a senior administration official told CNN, as the West aims to enforce more strictly a price cap first introduced nearly a year ago.
The new sanctions, part of a series of actions set to be announced Thursday, would primarily target the illicit fleet of ships the Kremlin has built up in the last year for the purpose of transporting its oil and oil products and selling them above price limits put in place by the West.
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