Washington is reluctant to sanction Russian oil tankers to prevent price hikes

The White House does not want to sanction tankers allegedly used by Russia to deliver oil in defiance of Western sanctions as there are fears that such a move could affect fuel prices and hurt President Joe Biden’s reelection campaign, The New York Times reported on July 7, citing sources familiar with the matter. The US outlet reported that White House economic advisers believe the US Treasury proposal will ultimately result in higher oil and gasoline prices. “While Treasury officials want to put Russian tankers out of commission, economic advisers inside the White House worry that there will be a risk of a spike in […] #AmericanGeopoliticalInstitute #UkraineWar
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