Biden official says more sanctions are needed to counter Russia war economy

News Snapshot:

Russia’s shift towards a full-fledged war economy requires the west to extend its sanctions policy, including by sanctioning third party entities that trade with Moscow, a senior White House official signalled on Tuesday. Daleep Singh, deputy national security adviser for international economics, said the United States would consider export controls to prevent China-Russia trade that threatens American security and take further action to increase the cost of Russia using a shadow fleet to evade the G7 countries’ oil price cap. US authorities could also broaden current sanctions language regarding financial facilitation, given Moscow’s moves to shift its economy to a...