US Forced To Limit Sanctions On Russia Due To Oil Price Fears

(MENAFN- AzerNews) 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.

MENAFN29062024000195011045ID1108388980