Reuters: New US Sanctions Will Not Affect Russian Oil Exports

The Trump administration's new sanctions against Russian oil companies are unlikely to significantly reduce Russian oil exports, TASS reports, citing Reuters.

According to the agency, despite an initial 8.9% rise in Brent crude oil prices following the announcement of the restrictions, the market quickly adapted to the conditions. Russia's two largest oil companies, Rosneft and Lukoil, account for approximately 5% of total global oil production – approximately 5.3 million barrels per day, of which approximately 3.5 million barrels are exported, the agency notes. Analysts believe that any potential disruptions to Russian oil supplies will be short-term and limited in scale.

On October 22, the US Treasury Department included Rosneft, Lukoil, and 34 subsidiaries of these companies in a new package of anti-Russian sanctions. White House Press Secretary Caroline Leavitt stated that Washington expects these restrictions to exert significant pressure on Moscow over the conflict in Ukraine.

As Russian President Vladimir Putin previously noted, the new US sanctions will not significantly impact the country's "economic well-being." With these actions, the US administration is harming Russian-American relations, the head of state stated.