US EditionAsian shares are mixed and crude prices soar $2 after Trump sanctions Russian oil giants
- On Thursday, the U.S. Treasury Department levied sanctions on Rosneft and Lukoil, aiming to push Russian President Vladimir Putin to negotiate ending Moscow's war on Ukraine.
- The measures aim to degrade the Kremlin's financing, with a Nov. 21 winding-down deadline, departing from the G7 price-cap mechanism, while European Union leaders weigh further sanctions.
- Following the U.S. decision, the international benchmark Brent crude rose $2.38 to $64.97 per barrel, and U.S. benchmark crude gained $2.31 to $60.81, reflecting immediate market reaction.
- Rosneft and Lukoil supply roughly half of Russia's more than 4 million barrels a day of crude exports, forcing Indian refiners including Indian Oil to face higher costs and scrutinize paperwork.
- Market analysts including John Kilduff and Muyu Xu called the move a major escalation, with Kilduff warning `This appears to imply that you cannot buy Russian crude oil regardless of the price`, as buyers shift toward non-sanctioned supplies.
71 Articles
71 Articles
Sydney Morning Herald
Energy stocks drive ASX higher as oil surges again
The ASX has moved higher, with energy shares gaining thanks to a rise in oil prices sparked by President Donald Trump announcing “massive” new sanctions on Russia’s crude industry.
Oil prices surge as Trump hits Russian energy giants with sweeping new sanctions
Oil prices jumped on Thursday after the U.S. imposed sanctions on major Russian oil companies over Russia's war in Ukraine.Brent crude futures were up 5%, while West Texas Intermediate crude futures climbed more than 5.2% as of Thursday morning.The Trump administration on Wednesday moved to sanction Russia's largest oil producers, Rosneft and Lukoil, over their role in funding the Russian war in Ukraine, which has become Europe's biggest land wa…
The oil prices have made a powerful move up. Background are new US sanctions against the Russian oil companies Lukoil and Rosneft - also on India the pressure is growing. By Angela Göpfert.
Coverage Details
Bias Distribution
- 40% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
