US imposes new sanctions on Russia's oil, gas, and banking sectors – CBS

The administration of U.S. President Donald Trump is imposing additional restrictions on Russia's oil, gas, and banking sectors, further limiting Russia's access to U.S. payment systems, CBS News reported, citing four anonymous sources familiar with the plans.

On Wednesday, the U.S. Treasury Department did not extend the 60-day exemption introduced by Joe Biden's administration in January, which had allowed certain energy transactions involving sanctioned Russian banks to continue. As a result, the banks will no longer be able to access U.S. payment systems for major energy transactions.

The Russian financial institutions that had been exempt from sanctions included Vnesheconombank, Bank Financial Corporation Otkritie, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Bank Zenit, Bank Saint-Petersburg and the Central Bank of Russia.

The decision to further restrict access to U.S. banking systems makes it harder for other countries to purchase Russian oil, thereby curbing its global supply. CBS News noted that this could lead to a $ 5-per-barrel price spike, which is significant given the recent decline in oil prices.

This comes as the Trump administration pushes Russia to accept the terms of a proposed 30-day ceasefire.

Fox News correspondent Edward Lawrence also reported on the license's expiration for purchasing Russian oil, citing a well-informed source.

"That means European Countries and our allies can NO LONGERR buy #oil from #Russia without sanctions from US being imposed. A source tells me this is a negotiation tactic to end the invasion [of Ukraine]," the journalist wrote on X.

The source told Lawrence that the Trump administration is focused on halting hostilities and continuing negotiations to end the war.

The United States will continue to enforce sanctions, which remain one of the key levers to achieving this goal, the source said.