The U.S. President Joe Biden administration is considering additional financial sanctions on Russia to restrict energy trade, according to Nikkei sources.

• The measure, to be decided by the end of this month at the earliest, moves to prohibit U.S. banks from dealing with with energy-related lender Gazprombank.
• Hungarian Prime Minister Viktor Orban however said the EU needs to reconsider sanctions against Russia. He said sanctions were keeping energy prices elevated, hindering the bloc's economic competitiveness, according to Reuters.