Overview
- New U.S. Treasury sanctions target Russia’s two biggest oil producers and threaten secondary penalties on third‑party buyers, with a roughly 30‑day wind‑down before full effect.
- EU leaders advanced a 19th sanctions package that phases out some LNG imports and expands actions against Russia’s shadow tanker fleet, while debating a large Ukraine loan backed by frozen Russian assets.
- Belgium raised liability concerns tied to Euroclear, leaving the proposed ~€140 billion assets‑backed loan for Ukraine without final agreement as leaders seek risk‑sharing guarantees.
- India’s Reliance and several Chinese state oil firms have begun pausing or scaling back purchases of Russian crude, reflecting early compliance pressure from the U.S. measures.
- Global oil prices rose about 4–5% after the announcements, as Moscow denounced the steps and said it would not seize European assets unless the EU confiscates frozen Russian sovereign funds.