U.S. sanctions on Russia’s largest oil companies place new pressure on President Vladimir Putin. But, evidenced by President Donald Trump’s frequently shifting positions, it’s still unclear where he will land on how to end the war in Ukraine.

President Trump announced new sanctions on the Kremlin that target Russia's two largest oil companies. This comes after Trump called off his meeting with Russian President Putin, saying "it didn't feel right.

Today, oil strategist Julian Lee looks at new US sanctions on Russia and their impact on world markets. US san

Brent crude and West Texas Intermediate futures jumped 5% following new U.S. sanctions on Russia's largest oil producers, to curb Russia's ability to fund its war in Ukraine.

Russia’s biggest oil producers—will hinge on three things: how well they are enforced, the reaction of major markets in India and China, and whether Moscow can circumvent the measures. The new U.S. sanctions “mark the most material move to date by the U.

President Donald Trump's administration announced Wednesday new “massive sanctions” against Russia's oil industry that are aimed at moving Russian President Vladimir Putin to the negotiating table and bringing an end to Moscow's brutal war on Ukraine.

The US has put pressure on India to reduce its energy purchases from Russia in a bid to hit the Kremlin's war chest.

The Trump administration could take an even harder line on Russia next year as the crude market faces a looming surplus.