Trump administration toughens sanctions on Russian oil, gas and banking sectors

The Trump administration is placing more restrictions on Russia's oil, gas and banking sectors by further restricting Russian access to U.S. payment systems, according to four people familiar with the plans. The Treasury Department on Wednesday let lapse a 60-day exemption put in place by the Biden administration in January that allowed specific energy transactions involving sanctioned Russian banks to continue. By letting the waiver lapse, the banks may no longer access U.S. payment systems to conduct major energy transactions. The Russian financial institutions that had been exempt from sanctions included Vnesheconombank, Bank Financial Corporation Otkritie, Sovcombank, Sberbank, VTB Bank,...