The United States government, under the leadership of President Donald Trump, is preparing to implement stricter sanctions on Russia, targeting key sectors including oil, gas, and banking.
According to a report by CBS News, the Trump administration’s latest move will restrict Russia’s access to U.S. payment systems, a development that could further isolate Russian financial institutions from global markets.
The plan, confirmed by four sources familiar with the matter, signals a renewed push to apply economic pressure on Moscow amid ongoing tensions over the war in Ukraine.
On Thursday, March 13, the U.S. Treasury Department allowed a 60-day exemption — introduced by the Biden administration in January — to expire. The exemption had permitted specific energy transactions involving sanctioned Russian banks to proceed, offering a limited avenue for continued trade.
With the waiver no longer in effect, major Russian financial institutions will be cut off from U.S. financial infrastructure. Those impacted include Vnesheconombank, Bank Financial Corporation Otkritie, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Bank Zenit, Bank Saint-Petersburg, and the Central Bank of Russia.
Analysts warn that the decision could tighten the global oil market, making it harder for countries to purchase Russian oil. This may result in a price surge of up to $5 per barrel, reversing recent downward trends in energy costs.
The move also coincides with ongoing diplomatic efforts by the Trump administration to pressure Russian President Vladimir Putin into accepting a proposed 30-day ceasefire to halt hostilities in Ukraine.
However, it remains uncertain whether the sanctions will influence Moscow’s position.