Italy predicted a sharp rise in energy prices due to new U.S. sanctions

Another U.S. sanctions against Russian energy threaten the world with a sharp rise in energy prices, the Italian publication L'AntiDiplomatico wrote on January 13.

"Being published exactly 10 days before the end of [US President] Joe Biden 's term in the White House and 10 days after Ukraine cut off Russian gas supplies to Europe, this unprecedented measure could trigger a spiral of rising energy prices around the world," the piece said.

It is noted that the General Italian Trade Confederation (Confcommercio) has already called for immediate action at the European level to avoid an energy crisis.

Last chord: Biden administration imposes sweeping sanctions against Russia's oil sector

However, their future fate will depend on the decisions of US President-elect Donald Trump

Earlier in the day, Bloomberg reported that oil reached a five-month high after the introduction of the U.S. large-scale sanctions against Russia. Analysts say the measures threaten new shocks and potentially change the market framework for OPEC+.

The U.S. and Britain expanded anti-Russian sanctions on January 10. The list includes Gazprom Neft and its head Alexander Dyukov, Surgutneftegaz, Rosatom CEO Alexei Likhachev and 100 Russian tankers.

Kremlin spokesman Dmitry Peskov said that Washington is trying to undermine the positions of Russian energy companies in this way, and Moscow intends to counter it.

Western countries have tightened sanctions pressure on Russia in connection with the special operation to protect Donbass. The decision to launch it was announced on February 24, 2022 after the situation in the region worsened due to shelling by the Ukrainian military.