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.

The United States and Britain on Friday announced sanctions against Russia's energy sector, including oil giant Gazprom Neft, just days before outgoing President Joe Biden leaves office.

The sources said they understand that the new US sanctions would target more than 180 tankers shipping Russian oil and Russia-based maritime insurance service providers Ingosstrakh Insurance Company

The U.S. Treasury on Friday announced sweeping new sanctions against the Russian energy sector, including oil majors Gazprom Neft and Surgutneftegaz, to try to hinder Moscow in its war with Ukraine. Britain also joined the sanctions against those two companies,

The sanctions target two major oil producers, liquefied natural gas production and elements of Russia’s so-called “dark fleet” of tankers used to carry oil to non-western bu

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 Biden administration announced Friday it was imposing what it billed as the most significant sanctions to date on the Russian energy sector, targeting Moscow’s oil and liquified natural gas (LNG) exports just weeks before leaving office.