Ukraine’s Allies Tighten Oil Sanctions on Russia in Coordinated Push to Limit War Funding.

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UPDATED :
Kolkata, India | Oct 28, 2025, 11:51 IST
3 Min read
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The United States, led by President Donald Trump, imposed full-scale sanctions on Russia's largest oil companies producers, Rosneft and Lukoil, for the first time since his presidency for a second term, freezing assets and prohibiting business with American entities. The European Union simultaneously approved its 19th sanctions package, including bans on Russian LNG imports and restrictions on financial institutions connected to the Kremlin's military supply chain. Trump explained he felt it was time for the sanctions, noting he had waited a long time to impose them, though he expressed hope they wouldn't remain in place for long if the war ends.

Global Oil Markets React as Major Buyers Reconsider Russian Imports

Global energy markets were instantly impacted by the coordinated penalties. As traders were concerned about a possible shortage of global supply, international crude prices surged by more than two dollars per barrel. The market response emphasized how important Russian oil exports are to the security of the world's energy supply and the possible repercussions of limiting them. Following the penalties, the price of oil skyrocketed globally, reaching 6% and pushing WTI crude beyond $61 per barrel. Futures for gasoline and diesel also surged as traders rushed to factor in a more limited supply worldwide. Fuel prices are expected to rise soon for consumers worldwide, according to analysts.
India and China Slash Russian Oil Purchases

India and China Slash Russian Oil Purchases

 Rapid action was taken by major refiners in China and India, with state oil companies restricting or stopping the import of Russian oil to protect their reputation in Western financial systems. Chinese state oil companies halted purchases of Russian oil transported by sea, while Indian refiners swiftly reduced their imports of Russian crude. Following the US declaration, Reliance Industries, India's biggest customer of Russian oil, reportedly took action to stop importing from its contract with Rosneft for about 500,000 barrels per day.

Sanctions Enforcement and Evasion Strategies

 The European Union authorized broad new sanctions targeting the Russian banking, gas, and oil industries in coordination with the United States. This is the bloc's 19th sanctions package since Russia launched its full-scale invasion of Ukraine in February 2022. The EU's move, which was taken just one day after the US declaration, showed that the West was united in its efforts to put pressure on Moscow. Secondary enforcement against foreign banks doing business with Rosneft or Lukoil is part of the sanctions package, which puts pressure on compliance globally. But with a "shadow fleet" of tankers and intricate offshore agreements, Russia hopes to get around the limitations and perhaps keep up to a million barrels per day floating in spite of the crackdown. Additional measures limit the use of artificial intelligence technologies by Russian organizations and target Russian cryptocurrency transactions, payment cards, and systems.

Political and Military Stakes as Ukraine Calls for More

While applauding the partners' efforts, Ukrainian President Volodymyr Zelenskyy called for more extensive coordination and even harsher penalties. Even while Moscow maintains its resistance to Western pressure, Kyiv thinks these economic measures will weaken Russia's war effort and force the Kremlin to engage in negotiations as winter slows down battlefield advances.

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