US sanctions on Russian oil giants Rosneft and Lukoil are shaking up the global market, leading to surging oil prices and a scramble for alternative supplies.

U.S. President Donald Trump on Wednesday imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting oil companies Lukoil and Rosneft as his frustration grows with Russian President Vladimir Putin over the war.

Kirill Dmitriev, a Kremlin special envoy, is reported to have arrived in the United States for "official" talks following the imposition of sanctions on Russia's oil sector and the cancellation of a planned summit between US President Donald Trump and Russian leader Vladimir Putin in Hungary.

New US sanctions on Russian oil giants Rosneft and Lukoil are prompting Indian refiners to seek more crude from the Middle East, Latin America, and th

Oil prices surged around 5% to a two-week high on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over Moscow's war in Ukraine, prompting energy firms in China and India to consider cutting Russian imports.

Oil prices surged around 5% to a two-week high on Thursday after the U. imposed sanctions on major Russian suppliers Rosneft and Lukoil over Russia's war in Ukraine.

SINGAPORE: Chinese state oil majors have suspended purchases of seaborne Russian oil after the United States imposed sanctions on Rosneft and Lukoil, Moscow's two biggest o

Bulgaria is preparing measures to secure uninterrupted supplies of oil and oil derivatives after the U.S. imposed sanctions on Russia's Lukoil , which runs the country's biggest oil refinery, Energy Minister Zhecho Stankov said on Friday.