Overview
- The U.S. Treasury froze assets and barred transactions with Rosneft and Lukoil and their majority‑owned subsidiaries, with the measures set to take effect on November 21 and carrying heightened secondary‑sanctions risk for counterparties.
- The European Union approved its 19th Russia package focused on energy revenue, advancing curbs on liquefied natural gas and blacklisting more than 100 tankers tied to the shadow fleet.
- President Donald Trump postponed a planned Budapest meeting with Vladimir Putin, while the White House said a future summit remains possible if Moscow shows tangible steps toward peace.
- International crude prices jumped about 5% after the announcements, reflecting concerns over disrupted Russian flows and tighter compliance by traders and shippers.
- Reuters‑cited reports say major Chinese state oil firms halted seaborne Russian crude purchases and Indian refiners began cutting imports, as Moscow condemned the moves as hostile and warned of repercussions and higher fuel prices.