Overview

• EU officials had planned to present the package on Wednesday but pulled back after U.S. urging, Bloomberg reported.
• Options under review include sanctioning major Russian energy firms and adding new barriers to the country’s oil trade.
• G7 governments are drafting a new Russia sanctions text with a target to finalize it in about two weeks, according to sources.
• President Trump has urged partners to impose tariffs of 50% to 100% on China and India over Russian oil purchases and has linked U.S. steps to allied alignment.
• China and India remain the main buyers of Russian crude, with India continuing purchases even after the U.S. raised tariffs on Indian goods to 50%, OilPrice reported.