Sanctions imposed by the United States on Russian oil are already leading the largest refineries in India and China to drastically reduce their imports, according to reports. Financial Times.
The United States announced this Wednesday a sanctions package which involves the two main Russian oil companies — Rosneft and Lukoil — for their direct role in financing Moscow and its war machine against Ukraine, as well as for avoiding solutions that lead to a peace agreement.
US sanctions on Russia were approved after Washington reported that there would not be a second meeting between Donald Trump and Vladimir Putin, following the fiasco of the summit held in August in Alaska.
Oil prices rise 5% after sanctions
Indian oil company Reliance Industries, cited by Financial Timessaid that oil prices rose 5% after the sanctions enacted by the Trump Government. The company announced this Thursday that it plans to “recalibrate” its imports from Russia, highlighting that the measures enacted by the United States against Rosneft and Lukoil are already having an impact on global energy markets..
The Chinese government also asked several large state-owned oil companies to suspend purchases of Russian oil transported by sea, following the announcement of North American and European sanctions, adds the Financial Times.
The President of the United States, Donald Trump, emphasized this Thursday that the sanctions imposed against Russia are “huge”, but expressed the hope that they would be “short-lived” and could effectively contribute to putting an end to the war in Ukraine.