Biden's final push: Late sanctions on russian energy sector
At the end of Joe Biden's term, the White House announced sanctions on the Russian energy sector to increase pressure on Russia. However, experts point out that they were introduced too late and further steps are necessary.
In the final days of Joe Biden's administration, comprehensive sanctions were imposed on more than 400 entities connected to Russian energy, including Gazprom Neft and Surgutneftegaz. These companies are responsible for a significant portion of Russian oil exports, and the sanctions cover every stage of trading this resource.
Sanctions were needed earlier
In an interview with the Polish Press Agency, Dr. Benjamin L. Schmitt from the University of Pennsylvania said that the new restrictions, although significant, came too late. The expert noted that if these actions had been implemented at the beginning of the conflict, they could have had substantial economic impacts on Russia.
The expert noted that the actions taken on Friday, during the final days of the Biden administration, were a positive step in intensifying energy sanctions against Putin's Kremlin after nearly three years of war in Ukraine. However, he argued that these measures should have been introduced at the outset of the conflict. If implemented effectively, they could have already had significant macroeconomic effects on Russia's economy and potentially influenced its stance on aggression against a democratic neighbor.
After taking office, Schmitt called on the Trump administration to continue increasing the pressure and not stop at the current sanctions.
"This will be necessary to exert the maximum sanction pressure required to support any just and lasting peace in Ukraine. To this end, the new Trump administration should immediately take steps to expand this latest series of sanctions upon taking office," said Schmitt. He added that it would show that the USA remains committed to Europe's security and is ready to take decisive measures.
Reaction from diplomats
Daniel Fried, a former US ambassador to Poland, noted that the timing of the sanctions is linked to the growing oil production in the USA and the post-election period. He expressed that the new sanctions could significantly impact the Russian economy and should be immediately utilized by the new White House occupants.
