US Makes New Statement On Oil Sanctions Against Russia

• 18.11.2025, 9:21

Restrictions are already in place.

The U.S. Treasury Department said that Washington's sanctions against Russian oil companies Lukoil and Rosneft are already reducing Russia's revenues and are likely to reduce sales of its oil in the long term.

The Reuters wrote about this on November 17.

The U.S. Treasury Department's Office of Foreign Assets Control emphasized that an analysis of the initial market impact of the sanctions indicates that they are doing their job by lowering the price of Russian oil and limiting the Kremlin's ability to finance the war against Ukraine.

OFAC estimates that several key grades of Russian crude have fallen in price to their lowest levels in years. In addition, nearly a dozen major Indian and Chinese companies that buy Russian crude have announced their intention to suspend purchases for December deliveries.

According to LSEG Workspace, on November 12, Urals crude shipped at the Black Sea port of Novorossiysk traded at $45.35 per barrel, its lowest price since March 2023. At that time, Russia began to form a shadow fleet of tankers to circumvent the G7 price ceiling of $60 per barrel, introduced in December of the same year.