Russia Denounces US Sanctions on Oil Giants, Warns of Rising Global Prices

Russia reacted with fury on Thursday after the United States imposed sweeping sanctions on its two largest oil companies, a move directly targeting the Kremlin’s most critical source of revenue that world leaders said keeps the war in Ukraine going. The U.S. Department of the Treasury on Wednesday announced sanctions on Rosneft and Lukoil, as well as nearly three dozen of their subsidiaries. This marks the first major economic punishment on Moscow by President Donald Trump since his return to the White House for a second term, as he seeks to pressure both Russia and Ukraine to pause the fighting along the current front lines....