US Sanction Russian Oil Companies: Trump vented his anger over failure of talks with Putin, US gave 2 serious blows to Russia

According to America, these Russian oil companies and their branches have been targeted so as to put pressure on Moscow to end the ongoing war in Ukraine. US Finance Minister Scott Besant said that the purpose of these sanctions is to stop violence and he asked for an immediate ceasefire. He also warned that if necessary, further strict measures can be taken.

US President Donald Trump said that the sanctions imposed on two big oil companies of Russia are very big and stringent. He expressed hope that these sanctions will not last long and the Russia-Ukraine war will be resolved soon. After meeting with NATO Secretary General Mark Rutte, Donald Trump said that we had a very good conversation today. We thought the Russia-Ukraine issue would be a little easier, but this too will be resolved soon.

India can also be affected by these sanctions because India is a major strategic partner of Russia and imports oil from Russia. India imports more than 35 percent of crude oil from Russia. The supply of cheap Russian oil may be disrupted as transactions with sanctioned companies will become difficult. This will increase India’s dependence on expensive sources like the Middle East, oil prices may go up. However, there is no possibility of much impact.