💨 Abstract

The U.S. imposed new sanctions on Russia’s top oil companies, Rosneft and Lukoil, condemning Moscow’s ongoing war in Ukraine. The Treasury Department warned of further action, citing Russia’s deadly strikes. Oil prices in Russia rose 3.4% post-sanctions, disrupting its war funding. Despite the pressure, experts doubt significant Kremlin policy changes. Meanwhile, the EU agreed on new sanctions targeting Russia’s oil tankers and LNG imports.

Courtesy: Sarah Hooper