U.S. President Joe Biden announced on Friday that Russian President Vladimir Putin is in a "tough spot" following the imposition of new coordinated sanctions by Washington and London on Russia's energy sector due to the war in Ukraine.
Speaking to reporters at the White House, Biden said, "Putin is in a tough spot right now, and I think it's really important that he has no breathing room to continue doing the very terrible things he keeps doing."
The White House stated that Biden spoke with his Ukrainian counterpart, Volodymyr Zelensky, on Friday and emphasized the importance of continuing support for Kyiv in its war against Russia.
In a statement, the White House said, "It is now clear that the war President (Vladimir) Putin launched against Ukraine has been a disaster for Russia. Thanks to the courage and determination of the Ukrainian people, and with support from the United States, Russia has failed to achieve any of its strategic objectives in Ukraine."
The United States and the United Kingdom imposed further sanctions on Russia’s energy sector on Friday in an attempt to restrict funding for Moscow's war in Ukraine.
The U.S. Treasury Department announced sanctions on Russian companies Gazprom and Surgutneftegaz, which are involved in oil exploration, production, and sales, as well as 183 tankers used to transport Russian oil. Many of these tankers are part of the so-called "shadow fleet" of older vessels operated by non-Western companies.
The sanctions also target networks engaged in oil trading.
Many of these tankers have been used to transport oil to India and China, as the price cap imposed by the Group of Seven (G7) in 2022 shifted much of Russia's oil trade from Europe to Asia.
Additionally, the Treasury Department removed a provision that had previously exempted intermediaries in energy-related payments from sanctions on Russian banks.
For its part, the United Kingdom imposed its own sanctions on Gazprom and Surgutneftegaz.
In a press release, the British Foreign Office noted that the two companies produce over one million barrels of oil daily, valued at approximately $23 billion annually.
