Washington weighs fresh Russia sanctions, signalling energy and banking risks

Officials indicated further measures against Russia are under consideration, alongside calls for European partners to increase pressure. Any expansion could touch energy, banking and trade-finance channels, with knock-on effects for commodity flows and shipping insurance. Markets are assessing potential impacts on crude differentials and refined-product spreads, as well as payment routing for exporters. Policy timing and scope will determine how quickly price effects transmit into global benchmarks and whether exemptions preserve critical supply routes.