U.S. hopes to cripple Russian oil industry, officials say
The New York Times reports: The Biden administration is developing plans to further choke Russia’s oil revenues with the long-term goal of destroying the country’s central role in the global energy economy, current and former U.S. officials say, a major escalatory step that could put the United States in political conflict with China, India, Turkey and other nations that buy Russian oil. The proposed measures include imposing a price cap on Russian oil, backed by so-called secondary sanctions, which would…