22
Nov
New US sanctions on two of Russia's largest oil companies, Rosneft and Lukoil, came into effect on November 21, 2025. The sanctions aim to significantly disrupt Russia's oil trade, causing approximately 48 million barrels of Russian crude to become temporarily stranded at sea as vessels urgently seek new buyers. The sanctions directly impact US-India trade discussions, as the Trump administration has imposed a 25% penal tariff on Indian exports in response to India's continued crude oil imports from Russia. While major Indian refiners are expected to cease direct procurement from the sanctioned entities, Russian oil is unlikely to disappear entirely…
