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 Russia's war in Ukraine. The sanctions could reduce global oil supplies since Russia was the world's second-biggest crude producer in 2024 after the U.

A rivalry at the heart of Russia's oil trade is threatening the crucial operations the Kremlin relies on to fund its war in Ukraine, just as the US cranks up the pressure on Moscow.

Secretary of the Treasury Scott Bessent said in a statement that “now is the time to stop the killing and for an immediate ceasefire,” adding that the U.S. is prepared to take further action if necess...

Kirill Dmitriev, Russian President Vladimir Putin's special envoy for investment and economic cooperation, said on Friday he was in the United States for a long-planned meeting and that U.S.-Russia di...

"I believe Russia and the US and Ukraine actually quite close to a diplomatic solution," Dmitriev told CNN.