Overview
- The U.S. Treasury blacklisted Russia’s oil giants Rosneft and Lukoil, freezing U.S.-held property and barring American firms from doing business with them.
- Reuters reported that PetroChina, Sinopec, CNOOC and Zhenhua halted purchases of seaborne Russian crude over sanctions risk, a pause that helped push Brent and WTI up roughly 5–6%, while pipeline flows to China continue.
- EU governments approved a 19th sanctions package that targets Russia’s shadow fleet, restricts Russian diplomats’ travel and phases out LNG imports from Russia by 2027.
- EU leaders postponed a decision on leveraging about €210 billion in frozen Russian assets to back financing for Ukraine, citing legal and risk-sharing hurdles ahead of further work toward a December discussion.
- The Kremlin condemned the U.S. steps as a hostile act, warned of a “very strong” response to any Tomahawk strikes, and Trump confirmed the planned Budapest meeting with Putin was canceled as allied capitals pressed to accelerate military aid to Kyiv.