The Biden administration is cracking down on the Russian “shadow fleet” and taking steps to curb oil and gas production.

Oil prices surged on Friday and were on track for a third straight week of gains as traders focused on potential supply disruptions from more sanctions on Russia. Brent crude futures gained $2.50, or 3.

Zelenskiy, writing later on X, expressed thanks for British sanctions imposed on Russian oil companies, saying that London "delivers yet another significant disruption to (Russian

The U.S. Departments of Treasury and State Friday applied new sanctions on Russia's oil production and exports. Sanctioned were oil companies, 183 ships, dozens of oil traders, insurance companies and energy officials.

By Timothy Gardner, Daphne Psaledakis, Nidhi Verma and Dmitry Zhdannikov WASHINGTON/NEW DELHI/LONDON (Reuters) -U.S. President Joe Biden's administration imposed its broadest package of sanctions so far targeting Russia's oil and gas revenues on Friday,

Russian oil producer Gazpromneft shrugged off the impact of major new U.S. sanctions on Friday, while insurance company Ingosstrakh said they would create a market vacuum that would benefit less reputable competitors.

The U.S. Treasury Department is sanctioning Russian oil companies, tankers, officials and executives. Oil prices jumped on worries that crude supplies would face disruptions. Oil prices jumped more than 3% on Friday as the U.