Overview
- Washington’s sanctions block assets of Rosneft and Lukoil, extend to entities they majority own, bar U.S. persons from transactions, and take full effect on November 21.
- EU leaders approved a new package focused on energy income, including curbs on Russian LNG imports, action against crypto use and facilitators, and a blacklist covering over 100 shadow-fleet tankers.
- Oil prices rose roughly 5% after the announcements, reflecting concerns over tighter Russian supply and higher compliance risks for global buyers and shippers.
- Major Chinese state firms and some Indian refiners signaled they would suspend or sharply reduce seaborne purchases of Russian crude, according to trade reporting.
- The Kremlin denounced the moves as hostile, with President Vladimir Putin warning of market consequences and ties worsening, and President Donald Trump postponing a planned Budapest meeting with Putin.