'Putin Will Lose Billions Of Dollars Every Month'

Biden introduced sanctions of unprecedented strength.

On January 10, Biden announced unprecedented sanctions against Russia's oil and gas industry. They are expected to cause major losses to the aggressor country's economy and affect its ability to continue the war in Ukraine.

If the sanctions imposed by Biden continue under the Trump administration, they have the potential to deal the most powerful blow to Russia's revenues ever, Reuters reports.

Putin's wallet should be significantly emptier

United States Deputy National Security Advisor for International Economics Daleep Singh said that these measures are "the most significant sanctions against the Russian energy sector, by far the largest source of revenue for Putin's war."

These sanctions are expected to cost Russia billions of dollars a month. “There is no step in the supply chain that is not disrupted, and that gives us more confidence that circumventing sanctions will be even more costly for Russia,” the U.S. official told reporters.

Sources in Russia’s oil trade and Indian refining industries, meanwhile, said the sanctions would severely disrupt Russian oil exports to its main customers, India and China.

Geoffrey Pyatt, the U.S. Assistant Secretary of State for Energy Resources, said new crude supplies are expected to arrive this year from the U.S., Guyana, Canada, and Brazil, and possibly from the Middle East, to replace the loss of supplies from Russia.

“We expect that our direct targeting of the energy sector will add to these pressures on the Russian economy, which has already pushed inflation to nearly 10%, and will add to the bleak economic outlook for 2025 and beyond,” an official said.

The Biden administration said that even if Trump wanted to lift the sanctions, he would not be able to do it without Congress. Meanwhile, many Republicans have called on Biden to accept the new restrictions.

The White House previously denied any connection between the sanctions and future negotiations on the war in Ukraine.

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