Biden Considers Russia's Energy Sanctions Without Political Burden

U.S. President Joe Biden, who is set to leave office, is considering large-scale sanctions targeting Russia's energy industry that has invaded Ukraine.

The Washington Post reported that the Biden administration plans to target ships that transport Russian oil to non-Western countries and Russian oil exporters that have not been included in the sanctions so far.

The Biden administration has been hesitant to tighten Russia's energy exports for the past two and a half years, fearing a surge in international energy prices, including gasoline purchased by U.S. consumers.

But now that inflation has eased and the U.S. presidential election is over, Mr. Biden's political calculation has changed, according to the Washington Post, as there has been less need to worry about the impact of sanctions on the U.S. economy.

In the meantime, Russia's energy industry has earned 146 trillion won in exports last year thanks to avoiding intensive sanctions, and the Russian government covers between one-third and one-half of its tax revenue from crude oil and gas sales.