US weighs new Russia oil sanctions to weaken Putin ahead of Trump, Bloomberg News reports

(Reuters) – The U.S. government is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump returns to the White House, Bloomberg News reported on Tuesday.

The details of the new measures are not yet finalized but President Joe Biden’s team was considering restrictions that might target some Russian oil exports, the report said, citing people familiar with the matter.

(Reporting by Angela Christy in Bengaluru; Editing by Sandra Maler)