The United States and its allies have sanctioned Russia’s largest oil companies in an effort to choke off funding for the Kremlin’s war on Ukraine, though experts doubt the measures will have immediate impact.

Russia extends sunflower seed and oil export duties till 2028 to spur domestic refining, stabilise food prices, and maintain supply amid changing global demand.

Igor Sechin, the CEO of Russia's biggest oil company, is said to be aware of the issue amid increased costs and discounted prices.

WTI rises above $61 in its biggest weekly gain since June. U.S. sanctions on Rosneft and Lukoil spur fears of supply cuts.

According to China’s General Administration of Customs, the previous peak was recorded in July of this year at 4.25 billion cubic meters. “Thanks to Gazprom’s planned increase in deliveries through the Power of Siberia pipeline,

BRUSSELS, Oct 23 (Reuters) - EU countries on Thursday formally adopted a 19th package of sanctions against Russia for its war against Ukraine that includes a ban on Russian liquefied natural gas imports. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

The statement comes a day after the US imposed sanctions on Russian oil giants Rosneft and Lukoil, which account for over two-thirds of India’s oil imports from Russia—currently the biggest supplier of crude oil to India with a market share of over 35 per cent.

Quote: "The head of the Russian government, Mikhail Mishustin, signed a resolution according to which a permanent border post is being created in the seaport for the passage of cargo. This means that the occupiers are preparing to use Ukrainian infrastructure to finance their own economy and military machine."

In his detailed analysis Why Russia’s War Economy Is Stronger Than You Think (Money & Macro, October 17, 2025), Dutch economist Dr. Joeri Schasfoort argues that this resilience is not accidental. It arises from deliberate adaptation: a transformation of Russia’s economy from a market-driven system into a centrally managed machine designed for war.

The Vienna Institute for International Economic Studies found Russia’s growth has slumped due to sky-high interest rates.