Advisers to President-elect Donald Trump are crafting a wide-ranging sanctions strategy to facilitate a Russia-Ukraine diplomatic accord in the coming months while at the same time squeezing Iran and Venezuela,

The overarching goal is to compel Russia to negotiate a peace deal with Ukraine. If Moscow signals willingness to agree to a ceasefire, the developing strategy envisages easing restrictions on Russian trade.

Advisors to Donald Trump are developing a sanctions strategy to reach an agreement between Russia and Ukraine while increasing pressure on Iran and Venezuela, Bloomberg reports. The agency notes that two scenarios have been prepared.

A fresh wave of U.S. sanctions against Russia’s oil industry threatened to disrupt global supplies, sending crude prices to their highest in more than four months.

Oil settled near $79 a barrel — a five-month high — as a fresh wave of US sanctions against Russia’s energy industry threatened to crimp supplies from one of the world’s top producers.Most Read from BloombergThese Homes Withstood the LA Fires.

The main target of the sanctions, done in coordination with the UK, are major Russian energy companies — Gazprom Neft and Surgutneftegas. The two firms exported about 970,000 barrels a day of oil by sea in the first 10 months of 2024, about 30% of the nation’s total flows on tankers, data compiled by Bloomberg show.