US forced to limit sanctions on Russia due to oil price fears
The Biden administration finds itself in a precarious position, unable to exert maximum sanctions pressure on the energy sectors of Russia and Iran due to concerns over potential global oil price spikes, Azernews reports, citing Report.
A high-ranking official from the US administration stated, "President Biden wanted to do everything possible to ensure the lowest price at the pumps for American consumers, as this directly affects the daily lives of citizens."
John Smith, former head of the Office of Foreign Assets Control at the US Treasury Department, offered his insight.
"Washington and its allies are approaching new sanctions very, very carefully to avoid overdoing it and harming the functioning of Western economies," he said.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!