Reported about 13 hours ago
The US has imposed significant sanctions on Russia's top oil producers, Rosneft and Lukoil, aiming to increase the costs and risks of trading with them while avoiding a global oil supply shock. Despite initial chaos in the oil markets and a brief price spike, the sanctions are intended to exert pressure on the Kremlin without a complete dismantling of its oil-export capabilities. Analysts predict that while Russia will continue to sell oil, it will face logistical challenges and reduced buyer options, particularly affecting its key markets in India and China.
Source: YAHOO