US, Europe in talks on additional pressure on Russian energy: White House

US and European leaders are in talks about additional pressure on Russian energy exports as the Biden administration prepares to impose a new round of sanctions this week, White House National Security Adviser Jake Sullivan said April 4.

Western governments are looking to tighten economic sanctions on Moscow as reports emerge of civilian killings in Ukraine.

While the US has already banned imports of Russian oil, gas and coal, it could escalate energy pressure through secondary sanctions on other countries that continue to import the supplies. Short of that, it could persuade European nations to implement a quicker phase-out of the flows.

"We want to make sure that we're able to pull together a consensus along with the rest of the European Union," Sullivan said.

Crude oil futures rose sharply April 4 on growing anticipation of new Western sanctions on Russian energy.

NYMEX May WTI jumped $4.01 to settle at $103.28/b, back above the $100/b threshold, and ICE June Brent jumped by $3.14 to settle at $107.53/b.

NYMEX May RBOB increased 4.46 cents to settle at $3.1981/gal, and May ULSD surged by 12.21 cents to $3.5461/gal. Concerns of global diesel shortages have continued to mount.