Overview
- The White House cut Russia’s top oil producers off from the U.S.-led financial system and warned importers, shippers and banks they could face secondary sanctions for doing business with them.
- India’s Reliance signaled reductions and Chinese state oil firms paused seaborne Russian crude purchases, moves that followed a near 5% rise in global oil prices.
- EU governments approved a 19th sanctions package and leaders convened in London with the UK-led coalition to coordinate further pressure and discuss additional long‑range support for Ukraine.
- A proposal to back a large Ukraine loan with frozen Russian sovereign assets remains stalled as Belgium seeks legal and risk‑sharing guarantees over Euroclear-held funds.
- Vladimir Putin downplayed the economic impact but warned of a “very serious, if not overwhelming” response to long‑range strikes, as Dmitry Medvedev condemned the measures and envoy Kirill Dmitriev traveled to the U.S. for talks.