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U.S. Hits Rosneft and Lukoil as EU Tightens Curbs and Russia Pounds Ukraine

The move underscores a sharp U.S. policy turn toward energy sanctions to cut Kremlin war funding.

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The sanctions by the United States against Russia come amid repeated claims by Trump that Prime Minister Narendra Modi has assured him that India will “not buy much oil” from Russia.
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Overview

  • Treasury sanctioned Rosneft and Lukoil, freezing U.S. assets and banning U.S. business with the firms, with companies given until November 21 to wind down dealings.
  • The European Union adopted a 19th sanctions package that includes a phased ban on Russian LNG by 2027 and the blacklisting of more than 100 shadow-fleet tankers.
  • Russian drone and missile strikes killed at least six people, including children, damaged civilian infrastructure such as a kindergarten, and caused nationwide power outages.
  • Global oil prices rose about 3% after the U.S. action, and Indian refiners signaled they may cut purchases of Russian crude to avoid sanctions exposure.
  • President Trump shelved a planned Budapest summit with Vladimir Putin, while Moscow denounced the measures, with Dmitry Medvedev calling them an “act of war.”