U.S. sanctions on Russian oil roil global markets as prices surge above $140

U.S. sanctions on Russia’s oil industry: Global energy markets in turmoil as Washington tightens the screws
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U.S. sanctions on Russia’s oil industry: Global energy markets in turmoil as Washington tightens the screws

The Trump administration imposed sweeping sanctions on Russian oil majors Rosneft and Lukoil on October 22, 2025, targeting Moscow’s revenue for the Ukraine war. Oil prices surged dramatically, with Brent crude exceeding $140 per barrel and U.S