Biden again increased Putin's troubles, and imposed new sanctions on Russia's energy sector.

US President Joe Biden's administration announced on Friday that it is expanding sanctions against Russia's vital energy sector. This is a new effort to create trouble for Moscow amid the nearly three-year-long war between Ukraine and Russia. This announcement has been made at a time when newly elected President Donald Trump is ready to take over the presidency again, vowing to end the war as soon as possible.

The outgoing Democratic administration has described the new sanctions as the most significant yet against the oil and natural gas sectors, considered the backbone of Russia's economy.

Losses exceeding billions of dollars

Officials said these sanctions will penalize entities doing business with Russia, which could cost the Russian economy more than billions of dollars per month. More than 180 oil carriers, traders, oilfield service companies and Russian energy officials are also targeted by the new sanctions.

Ships were targeted

According to the Treasury Department, many of the ships targeted are also suspected of carrying banned Iranian oil. British officials also announced supplementary sanctions against Russia's energy sector. Both countries are targeting Russia's two major oil producers - Gazprom Neft and Surgutneftegas - and dozens of their subsidiaries.

Depends on the Trump administration

Treasury Secretary Janet Yellen said in a statement that the US is taking comprehensive action against Russia's major source of revenue to finance its brutal and illegal war against Ukraine. Biden administration officials, however, said it would be up to the Trump administration whether to continue or end the new sanctions. Trump's team did not immediately respond to a request for comment about the sanctions. However, Trump told reporters on Thursday that Russian President Vladimir Putin wants to meet, and we are arranging it.