Overview

• The United States has introduced its most extensive sanctions yet on Russia's oil sector, targeting two major oil producers, 183 tankers, and traders linked to Russian oil exports.
• The sanctions aim to disrupt Russia's energy revenue, which accounts for over a third of its federal budget and has been critical in financing its ongoing invasion of Ukraine.
• Britain joined the U.S. in sanctioning Gazprom Neft and Surgutneftegas, which collectively ship nearly 1 million barrels of oil daily, representing a significant portion of Russia's exports.
• India and China, key buyers of Russian oil, face potential trade disruptions as sanctioned vessels and traders are barred from ports and markets, raising concerns about global oil supply stability.
• The measures, announced days before Donald Trump takes office, are seen as a move to strengthen Ukraine's position and provide leverage for future negotiations to end the war.