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.

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 United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.

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 United States of America has announced new sanctions that will hit Russia's oil refining industry. Source: European Pravda with reference to a US Treasury Department press release Details: Sanctions have been announced against Gazprom Neft and Surgutneftegas.

The Biden administration's new sanctions target Russia's oil giants Gazprom Neft and Surgutneftegas, shadow fleet vessels, and opaque traders. Oil prices surged, while European equities slid as investors fear tighter global supply.