US and UK tighten sanctions on Russian oil industry

The US administration imposed tougher sanctions on Russian oil:

• target more than 200 entities and individuals including traders, officials, insurance companies, hundreds of oil tankers
• UK will join the US in directly sanctioning energy companies Gazprom Neft and Surgutneftegas

Via BBC (more at the link):

• Some of the measures announced by the US Treasury on Friday will be put into law, meaning the incoming Trump administration will need to involve Congress if it wants to lift them.
• Washington is also moving to severely limit who can legally purchase Russian energy, and going after what it called Moscow’s “shadow fleet” of vessels that ship oil around the world.

This article was written by Eamonn Sheridan at www.forexlive.com.