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Oil Jumps as Trump Steps Up Pressure on Russia With Sanctions
Posted
October 23, 2025
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1:30Now PlayingOil soared after the US announced sanctions on Russia’s biggest oil companies, threatening supplies from one of the world’s top producing countries.
West Texas Intermediate jumped as much as 6.2% to trade above $61 a barrel, heading for the biggest one-day gain since the start of the Israel-Iran conflict on June 13.
The US blacklisted Russian oil giants Rosneft PJSC and Lukoil PJSC in an effort to cut off revenue Russia needs for its war in Ukraine. Senior refinery executives in India — a key buyer of Russian crude — said the restrictions would make it impossible for flows to continue.
#politics #trump #worldnews #us #russia #putin #china #ukraine
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