Western nations have intensified pressure on Russia’s oil exports amid the ongoing war in Ukraine, with U.S. President Donald Trump asserting that India will cease buying Russian crude and Britain imposing sweeping sanctions on major Russian and Chinese energy firms. Ukrainian President Volodymyr Zelenskiy is set to meet Trump in Washington on Friday to seek greater military and energy support as both Kyiv and Moscow escalate attacks on critical energy infrastructure.
India, one of Russia’s top oil buyers alongside China, is reportedly preparing to scale back its imports, though officials say no formal directive has been issued. According to trade data, Russia currently supplies about 36% of India’s oil—roughly 1.75 million barrels per day. However, traders anticipate a gradual decline in purchases starting December, following U.S. pressure and ongoing trade negotiations that have already seen Washington double tariffs on Indian goods.
Trump told reporters that Indian Prime Minister Narendra Modi assured him India would stop purchasing Russian oil, calling it “a big step” and adding that the U.S. would next urge China to do the same. Yet, India’s foreign ministry denied knowledge of any such conversation, emphasizing continued discussions on energy cooperation with the United States.
Meanwhile, Britain announced sanctions on Russian oil giants Lukoil and Rosneft, as well as Chinese firms Shandong Yulong Petrochemical and several port operators linked to Russian energy imports. The sanctions also target 51 ships, including LNG tankers and Russia-owned refinery Nayara in India. Moscow’s embassy in London condemned the sanctions, warning they would destabilize global markets without altering Russia’s policies.
Despite international restrictions, Russian officials remain confident. President Vladimir Putin said oil output would only dip slightly this year, while Deputy Prime Minister Alexander Novak reaffirmed ongoing cooperation with India.


U.S.-Iran Talks Resume in Switzerland as Lebanon Ceasefire Boosts Hopes for Lasting Deal
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook
Andy Burnham Leadership Speculation May Boost FTSE 100 as Gilt Yields Rise
US to Review Iran World Cup Travel Restrictions Ahead of Egypt Clash
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals
Pakistan, Qatar Mediation Secures Preliminary U.S.-Iran Deal Amid High-Stakes Negotiations
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says
Trump Heads to Camp David for High-Stakes Iran Talks and Policy Meetings
German Industry Employment Falls to Lowest Level in a Decade
Lee Jae Myung, Trump Discuss Step-by-Step North Korea Nuclear Strategy at G7
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire
Bolivia Nears End to 50-Day Crisis After Government Reaches Deal With Workers
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal
Trump Says He Will Visit Turkey and Return to China in 2026
Iran Claims Strait of Hormuz Closure Amid Rising Middle East Tensions 



