Reported about 13 hours ago
The U.S. and EU have launched new sanctions against Russia's major oil companies, Rosneft and Lukoil, aiming to disrupt the funding of the ongoing war in Ukraine. The sanctions threaten customers in India and China with retaliation, pushing them to reconsider buying Russian oil. This crackdown follows a three-and-a-half-year effort to limit Russia's oil revenues, which are vital for its state finances. As the sanctions take effect next month, both the U.S. and EU are intensifying their strategies to enforce deeper economic impacts on Russia amid ongoing conflicts.
Source: YAHOO