In the final days of Joe Biden’s presidency, the US unveiled its most sweeping and aggressive effort yet to disrupt the oil shipments that are helping Russia to fund its war in Ukraine.

Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest sanctions targeting Russia and a larger than forecast fall in U.S. crude stocks.

A fresh wave of U.S. sanctions against Russia’s oil industry threatened to disrupt global supplies, sending crude prices to their highest in more than four months.

On Jan. 10, the U.S. Treasury announced fresh measures to deplete Russia's energy revenues, including on 183 vessels, largely oil tankers.

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.

Washington also took action against a sanctions evasion scheme established between actors in Russia and China, targeting regional clearing platforms in the two countries that it s

The outgoing US government has announced additional sanctions on Russia shortly before the end of President Joe Biden's term. The measures are directed against around 250 individuals and entities associated with the Russian defence industry,