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

President Joe Biden's administration says it's expanding sanctions against Russia's critically important energy sector over its war in Ukraine.

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,

The White House, now unconcerned about the effect on gas prices and inflation, blacklisted two of Russia’s biggest oil producers and nearly 200 tanker ships.

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

Oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue. The Biden administration on Friday imposed fresh sanctions targeting Russian oil producers,

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.

The measures include sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, and the blacklisting of 183 vessels involved in Russian energy exports. Dozens of traders, Russia-based oilfield service providers,

"The United States is taking sweeping action against Russia's key source of revenue for funding its brutal and illegal war against Ukraine," Treasury Secretary Janet Yellen said.

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.