Widening net: New US sanctions to affect supply of Russian energy

Two large producers and exporters have been brought into the sanctions net: Surgutneftegas and Gazprom Neft

In a parting shot, the departing administration of United States (US) President Joe Biden has extended the scope of its sanctions on the Russian energy sector. The new measures, announced last week, go much further than the existing sanctions and have the potential to create additional volatility in an energy ecosystem that is already under considerable pressure. This decision, coming as it does just a couple of weeks before the start of the Donald Trump presidency, throws a political challenge to the new administration, which is known for its pro-Russian bias. Mr Trump will therefore be put to the test