US Seen Adopting Measured Approach on Russian Oil Sanctions
- Maintaining gasoline prices is key for Biden administration
- Gasoline, diesel margins in 2024 seen lower than 2021-22
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The US has been ratcheting up its scrutiny of ships and companies that support the Russian oil trade in recent weeks, but it’ll stop short of imposing any sanctions that could lift prices, said Amrita Sen, founder of energy consulting firm Energy Aspects.
Washington is currently “testing waters” on how much it can sanction, Sen said at the Financial Times Commodities Asia Summit in Singapore on Wednesday. Avoiding high prices remains the key objective, with gasoline being the most important for President Joe Biden.