The United States and Britain on Friday announced sanctions against Russia's energy sector, including oil giant Gazprom Neft, just days before outgoing President Joe Biden leaves office.

Biden administration officials say the sanctions are being imposed now because they are not likely to add to inflation

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

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 now has freer hand in restricting Russian oil amid predictions of a global glut.

In its final days, the Biden administration is again cracking down on Russia over its war with Ukraine, targeting the country’s production and exports of oil. The U.S. Treasury Department unveiled new sweeping sanctions on Russia’s energy sector Friday in an effort to reduce Moscow’s revenue from oil that has continued to be shipped by