Name: U.S. sanctions on Russian oil will have significant impact: expert
Uploaded: 2025-10-24T02:45:37.970Z
Duration: 2 min
Description: Fresh U.S. sanctions on Russia can have a ‘significant’ impact on its economy, according to Reuters EMEA Energy and Commodities Editor, Dmitry Zhdannikov.

Fresh U.S. sanctions on Russia can have a ‘significant’ impact on its economy, according to Reuters EMEA Energy and Commodities Editor, Dmitry Zhdannikov.

Moscow

The United States has introduced new sanctions targeting Russia's two largest oil companies, Rosneft and Lukoil, as part of efforts to pressure the Kremlin over the conflict in Ukraine. While Russian President Vladimir Putin downplayed the impact, experts and trade sources suggest the sanctions will significantly affect Russia's oil revenues and economic stability.

Previous sanctions on other Russian oil firms did not halt oil flows, but forced Russia to offer steep discounts, reducing state revenue. The latest measures have already led Chinese and Indian refiners to reduce or suspend Russian oil purchases, and crude oil prices have risen over 5 percent. The U.S. has indicated readiness to take further action, calling for an immediate ceasefire in Ukraine, while Moscow maintains its demand for territorial concessions before negotiations.

U.S. sanctions on Russian oil will have 'significant' impact: expert

Russian President Vladimir Putin on Thursday downplayed the impact of fresh U.S. sanctions on his country's two biggest oil companies. He called the penalties an unfriendly act that, quote, will have certain consequences, but they will not significantly affect our economic well-being. VLADIMIR PUTIN, Russian Presidential Candidate for President of the United States, said, quote, the impact will be significant. That's no doubt about it. While Moscow may try and tout its resilience in the face of sanctions, Reuters editor Dmitry Zhdanov says the Kremlin will feel the bite. Yesterday, the United States imposed sanctions on two of the biggest Russian companies, oil companies, Rosneft and Lukoil, but similar sanctions have already existed on the number three and number four Russian oil company, Gazprom, Neft and Surgut. Those sanctions didn't stop the flows of oil. India and China were still taking Russian oil, but what happened is that Russia had to provide to offer steeper discounts when selling oil. So that means less revenue for the Kremlin. Trade sources told Reuters Chinese state oil majors have suspended Russian oil purchases in the short term. Refiners in India are set to sharply cut their crude imports. The sanctions set crude oil prices up more than 5 percent on Thursday. They're massive sanctions and sanctions on oil. The two biggest oil companies among the biggest in the world, but they're Russian, they do a lot of oil. The move is an attempt by U.S. President Donald Trump to squeeze Russia's finances and try to force the Kremlin toward a peace deal in Ukraine. And they mark a U-turn by Trump, who only last week said he believed Putin wanted to reach a deal and even soon hold a summit to try and end the war. The U.S. said it was prepared to take further action as it called on Moscow to agree immediately to a ceasefire in Ukraine. Moscow has insisted Ukraine cede more territory before talks can begin.

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