• The U.S. administration imposed sanctions on Russian oil giants Rosneft and Lukoil, triggering a sharp rally in crude prices.
• WTI surged 2.8%, climbing back above the $60/bbl mark as traders reacted to potential disruptions in Russian oil supply.
• The sanctioned firms produce over 5 million barrels per day, making this one of the most impactful measures against Russia’s energy sector this year.
• The market’s big question: will China and India continue to buy Russian oil, or will sanctions deter their purchases?
• Earlier sanctions on Gazprom Neft and Surgutneftegas had limited effect — so traders are watching closely to see if this round bites harder.
• The EU also approved its 19th sanction package against Russia, targeting 117 shadow-fleet vessels, two Chinese refineries, and introducing a ban on Russian LNG starting in 2027.
• This move marks a clear policy shift from Washington and Brussels — signaling growing alignment on tightening energy trade restrictions.

What’s Next?: The renewed sanctions could keep oil prices elevated in the short term, but the true impact will depend on how effectively they restrict Russia’s exports and how major buyers respond. In the meantime, volatility in the energy markets looks set to continue.