Trump tightened sanctions against Russia by not renewing the exemption for banks, which will complicate the purchase of Russian oil and lead to higher energy prices

On March 13, the Trump administration tightened sanctions against the Russian oil and gas industry by not renewing an exemption for Russian banks that allowed them to use American payment systems for energy transactions. This will make it more difficult to purchase Russian oil and lead to an increase in oil prices. The exemption applied to transactions involving natural gas, oil, coal, and uranium. This move is part of a broader policy aimed at exerting pressure on Russia in the context of the ongoing conflict in Ukraine.