India's Reliance plans to stop importing oil from Rosneft. Read more at straitstimes.com. Read more at straitstimes.com.

Notably, the Ukrainian President was in London to hold meetings with over two dozen European leaders to garner their support in the ongoing war with Russia. The EU leaders have pledged military help to protect Ukraine from Russian aggression.

A dispute between rival traders is causing trouble for the oil business that Moscow built to keep the pumps working following Western sanctions over the invasion of Ukraine

Oil prices on Friday posted their biggest weekly gains since June, after the U.S. imposed sanctions Wednesday on Russia’s Rosn

The US is imposing sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, aiming to “degrade” Vladimir Putin’s war chest and support Donald Trump’s effort to end the war in Ukraine. The move marks the first time the Trump administration has imposed direct costs on Moscow over its full-scale invasion.

The European Union has approved a sweeping new package of sanctions against Russia, intensifying its economic campaign against Moscow’s war machine. Key Takeaways: The EU approved a new sanctions package banning Russian LNG imports and tightening banking and crypto restrictions.

President Vladimir Putin said on Thursday that Russia would never bow to pressure from the United States or any other country, and cautioned that the response to any strikes deep into Russia would be very serious and overwhelming.