U.S. President Donald Trump announced sweeping sanctions on Russia’s oil giants Rosneft and Lukoil yesterday, escalating economic pressure on Moscow amid the ongoing Ukraine conflict.
The White House banned U.S. companies from doing business with both firms and froze their American assets. Treasury Secretary Scott Bessent said the sanctions aim to “deplete Russia’s war chest” and limit its ability to fund the war.
Meanwhile, global oil prices surged instantly. Brent crude rose over 4%, hitting about $65.30 per barrel, while U.S. WTI crude jumped 4.4% to $61.06. Markets reacted swiftly to growing fears of supply disruptions and tightening global inventories.
Energy analysts warned that the move could force major buyers like India and China to seek alternative suppliers, further complicating Russian crude exports and destabilizing global supply chains.
Investors quickly took to social media to share their reactions. One user tweeted, “$65 barrel Brent today—geopolitics just cancelled our cheap fuel weekend.” Another wrote, “Trump just lit the fuse on oil prices—gas pumps will feel this soon.”
Across Europe, stock markets reacted unevenly. Energy companies’ shares climbed sharply, while broader indexes paused as investors weighed the risk of inflation and central bank responses.
The sanctions represent the first major oil-sector action against Russia under the Trump administration and highlight a tougher U.S. energy policy approach.
As the world watches closely, governments and corporations brace for ripple effects across fuel pricing, inflation, and geopolitical stability.
