WSJ: The United States may impose sanctions against Russia due to destabilization of the situation in the oil market

The US authorities are considering the possibility of introducing new sanctions against Russia in order to stabilize the situation on the oil market. It is reported by The Wall Street Journal, citing sources.

According to them, the administration of US President Donald Trump intends to intervene in the oil dispute between Russia and Saudi Arabia and wants to urge the authorities of the latter to reduce the production of raw materials to previous volumes. The United States plans to use diplomatic measures in relation to Riyadh through the State Department or the National Security Council.

The publication notes that it is not yet clear what kind of restrictions against Russia are in question and what actions of Moscow may provoke their introduction. Sources say US oil companies asked the White House to intervene. The Trump administration is also considering stepping up cooperation with Saudi Arabia to prevent it from returning to an alliance with Russia, according to the WSJ.

Recall that on March 6, OPEC+ countries were unable to agree on an additional reduction in oil production due to falling demand due to the coronavirus pandemic, which led to lower energy prices. Saudi Arabia has announced that it is going to maintain oil supplies at the maximum level.