Page 3 - Russia Oil Production

Trump's turnaround sanctions target Russian oil firms that fund Ukraine war

The US and the European Union are hitting Russia with another round of sanctions, aiming to cut into oil and gas export earnings that fund Moscow's war against Ukraine. More than 3 1/2 years into the war, the effort remains a cat-and-mouse game, with Russia finding new ways to get around sanctions, and Washington and Brussels adding new ones and looking for ways to plug enforcement gaps. The chief target of the latest round: Russia's biggest oil companies, Rosneft and Lukoil. New US Treasury sanctions threaten their customers in India and China with retaliation that could include being sanctioned themselves. Meanwhile, the EU is phasing out by the end of next year those shipments of Russian liquefied natural gas that come by ship, and is going after cryptocurrency issuers, platforms and exchanges that Russia has used to skirt restrictions on its financial dealings with the outside world. US Treasury Secretary Scott Bessent said the move aimed to push Russian President Vladimir Puti

US sanctions on Russian oil majors may hurt Reliance Industries, Nayara

Rosneft, Lukoil major suppliers to India; crude import bill may rise by over ₹23K cr

EU imposes new sanctions on Russian energy, joins US in pressure campaign

The EU will also tighten a transaction ban on two major Russian oil companies and sanction 117 additional so-called shadow fleet vessels

US sanctions on Russian oil to hit Reliance; PSUs may keep buying

US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Ambani's Reliance Industries Ltd - India's largest buyer of Russian crude, accounting for roughly half of the country's 1.7 million barrels per day of imports from Moscow - may however have to recalibrate its imports as it buys crude oil directly from Russia's Rosneft, they said. Reliance had in December 2024 signed a term deal with Russia's Rosneft - now sanctioned - to import as much as 500,000 barrels per day of Russian oil for 25 years. It also buys oil from intermediaries. The company did not immediately respond to

Recalibrating Russian oil imports, will fully comply with guidelines: RIL

Reliance, which operates the world's largest refining complex at Jamnagar in Gujarat, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian major Rosneft

India's Russian oil imports may dry up as US sanctions hit Rosneft, Lukoil

Latest sanctions will mean that orders due to be placed over the coming week - for crude that will load in November and deliver in December - will now be overwhelmingly from other destinations

US imposes new sanctions on Russia's top oil firms Rosneft and Lukoil

Treasury Secretary Scott Bessent announced new sanctions Wednesday against Russia's two biggest oil companies and blasted Moscow's refusal to end its senseless war as U.S.-led efforts to end the war floundered and the Ukrainian president sought more foreign military help. The sanctions against Rosneft and Lukoil, as well as dozens of subsidiaries, followed months of bipartisan pressure on President Donald Trump to hit Russia with harder sanctions on its oil industry. Now is the time to stop the killing and for an immediate ceasefire, Bessent said in a statement. Given Russian President Vladimir Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. Bessent said the Treasury Department was prepared to take further action if necessary to support Trump's effort to end the war. We encourage our allies to join us in and adhere to these sanctions. Bessent made the comments as NATO Secretary General Mark .

India not going to buy much oil from Russia, says US President Donald Trump

US President Trump and PM Modi discuss trade, India's Russian oil imports, and regional issues in Diwali call; PM reiterates India-US partnership and anti-terror stance

EU energy ministers push to ban all Russian gas by 2027 amid US pressure

Europe has been under pressure from the US to speed up moves to sever its energy ties with Moscow, and buy more American liquefied natural gas

'India won't buy Russian oil': Trump repeats claims of speaking to PM Modi

Trump reiterated that PM Modi assured India would not buy Russian oil now, despite New Delhi dismissing his claims; Trump added New Delhi would continue paying 'massive' tariffs otherwise

50% Trump tariffs: Call on support measures hinges on trade deal

Both countries are negotiating a comprehensive resolution that addresses both the pending issues in their trade deal and Washington's concerns over New Delhi's continued purchase of Russian oil

Dark ship appears to transfer US sanctioned Russian LNG off Malaysia

The Perle, which was sanctioned by the US earlier this year, is currently anchored parallel to another vessel approximately 90 kilometers (55 miles) east of the Malaysian peninsula

US, Saudi Arabia vie for larger share of India's crude oil import pie

Amid global oversupply, the US is emerging as a cost-competitive oil supplier to India, challenging Saudi Arabia and other Gulf producers even as Russian barrels dominate

UK slaps 90 sanctions on Russian firms, Nayara Energy to curb Kremlin funds

The UK government has imposed sanctions to cut Russian oil revenues, targeting Putin's war funding and aiming to block money flowing to the Kremlin

Russian oil imports in Apr-Sep fell 8.4% on tighter supplies, discounts

September's volume was flat versus August at 1.6 million bpd, down 14.2 per cent from the same month a year ago, the data showed

Sanction-hit Nayara scrambles to sustain operations with support from India

Blocked from international markets by EU sanctions, the Russian-owned refinery has diverted more fuel to India and sought new export customers through various workarounds

Indian refiners likely to import more Russian oil as discounts deepen

Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive

Russian oil traders ask Indian buyers to pay in yuan amid strong China ties

In 2023, Indian state refiners made some payments for Russian oil in yuan, but they stopped due to displeasure from the Indian government during a period of heightened tensions with Beijing

Hungary clings to Russian oil, gas as EU, NATO push to cut supplies

As the European Union pushes to fully sever its reliance on Russian energy and the administration of US President Donald Trump urges NATO members to abandon Russian oil, one country's populist government stands firm. Hungary and its leader, Prime Minister Viktor Orbn, have long argued Russian energy imports are indispensable for the country's economy and switching to fossil fuels sourced from elsewhere would cause an immediate economic collapse. Orbn, who has long had the friendliest ties to the Kremlin of any EU leader, has vigorously opposed the bloc's efforts to sanction Moscow after its invasion of Ukraine in February 2022, and blasted attempts to hit Russia's energy revenues that help finance the war. As the rest of Europe has weaned off Russian energy, Hungary has maintained, and even increased, its Russian imports, insisting no viable alternative exists. But some energy experts as well as Orbn's critics, who see his commitment to Russian energy as a symptom of his affinity

India eyes first US LPG deal as trade war shifts global fuel supply routes

India's state oil companies plan to import up to three large US LPG cargoes per month in 2026, marking the country's first long-term US supply deal