Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine.

Get the latest news and live updates as the government shutdown continues, Trump sanctions Russia in a push for a ceasefire in Ukraine and Rubio heads to Israel amid Gaza truce.

Heading into the report, a group of unions and watchdogs launched the "Take Back Tesla" campaign to urge investors to oppose Musk's new compensation plan. The highly publicized pay package would give the billionaire entrepreneur an opportunity to rake in almost $1 trillion in stock.

President Trump announced sanctions on Lukoil and Rosneft, Russia’s two largest oil companies, while restrictions by the European Union included a ban on imports of Russian liquefied natural gas.

(Reuters) -Here is a summary of some of the thousands of international sanctions imposed on Russia over its invasion of Ukraine. ENERGY COMPANIES - U.S. President Donald Trump placed sanctions on Russian oil giants Rosneft and Lukoil on October 23,

U.S. Treasury Secretary Scott Bessent announces new sanctions against Russia will be coming on FOX Business Network's "Kudlow." "These are sanctions, not secondary tariffs," Bessent told host Larry Kudlow.