US tightens sanctions on Russian energy payments, banks

The United States has decided not to extend a sanctions exemption that had allowed certain Russian banks to process energy payments, intensifying financial pressure on Moscow amid ongoing ceasefire talks with Ukraine.

The waiver, which applied to Russia’s National Clearing House and the Central Bank, expired on March 12. As a result, key financial institutions – including Vnesheconombank, Otkritie Financial Corporation, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Zenit Bank, St. Petersburg Bank, and structures of the Russian Central Bank – will now face tighter restrictions.

According to Fox News correspondent Edward Lawrence, citing an anonymous source, the decision was made as part of efforts to increase pressure on Russia during negotiations with Ukraine. CBS News reports that the move is expected to make it more difficult for other countries to purchase Russian oil, potentially leading to a global price increase of up to $5 per barrel.

While there has been no official confirmation of the full extent of the new measures, an unnamed US Treasury official confirmed to Reuters that the waiver had not been renewed.

US President Donald Trump has also commented on the matter, suggesting further economic measures could be imposed on Russia. Writing on Truth Social on March 7, he urged Moscow and Kyiv to negotiate, saying “Russia and Ukraine, sit down at the [negotiating] table immediately, before it’s too late.”