Overview
- The Treasury designation freezes assets of Rosneft and Lukoil, blocks U.S. persons from dealings, and warns foreign financial institutions they risk secondary sanctions.
- Oil prices jumped roughly 5% as Reliance signaled it would recalibrate purchases and Chinese state oil firms paused seaborne Russian crude buys, according to trade sources.
- Vladimir Putin labeled the measures an unfriendly act, conceded some losses were likely, insisted the wider economy would hold up, and warned of a very strong response to Tomahawk strikes on Russia.
- President Donald Trump canceled a planned Budapest summit with Putin, cast the sanctions as leverage to spur talks, and said the impact would be clearer in six months.
- EU leaders kept debating plans to deploy frozen Russian central-bank assets for Ukraine as Belgium sought liability guarantees, while Moscow said it would consider reciprocal asset seizures only if confiscation proceeds.