New US Sanctions Take ‘Sweeping Action’ Against Russia’s Energy Sector [Video]

New U.S. sanctions took “sweeping action” against Russia’s energy sector on Friday.

“The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine,” U.S. Treasury Secretary Janet Yellen said in a Friday statement.

Newsweek reached out to President-elect Donald Trump‘s transition team via email for comment on Friday.

Why It Matters

President Joe Biden has been a huge ally to Ukrainian President Volodymyr Zelensky in his fight against Russian President Vladimir Putin‘s full-scale invasion that began nearly three years ago.

With less than two weeks until the Biden administration leaves the White House, it has placed new sanctions, which it called the most significant to date, on Russia’s oil and liquefied natural gas sectors, the driver of the eastern Europen county’s economy. Officials said the sanctions could cost the Russian economy over billions of dollars per month.