March 29, 2025 6:57 am
Full News

Sweeping U.S. Sanctions on Russia’s Oil Industry to Impact Moscow’s Exports

New Delhi, January 13, 2025 – Analysts and traders have indicated that the sweeping U.S. sanctions on Russia’s oil industry will make it more expensive for Moscow to sell its oil and complicate sea-borne crude exports due to restrictions on tankers. The measures, targeting Russia’s oil and gas revenues, were unveiled by President Joe Biden’s administration on Friday, aiming to give Kyiv and Donald Trump’s incoming team leverage to reach a peace deal in Ukraine.

The United States has been cautious about spooking global oil markets, but these new sanctions specifically target traders, insurers, and 183 vessels in the so-called shadow fleet, which have allowed Russia to continue selling vast volumes of oil to global markets.

Oil prices have climbed by about 6% since January 8, surging on Friday after the latest sanctions were introduced. Kremlin spokesman Dmitry Peskov warned that the sanctions risk destabilizing global markets, but assured that Moscow would do everything possible to counteract them.

According to Morgan Stanley, the tankers sanctioned by the United States carried around 1.5 million barrels of crude oil per day and 200,000 barrels per day of oil products in 2024. The Moscow-based Sinara Bank expects the discount of Russia’s flagship Urals oil blend to dated Brent to potentially rise from $8 per barrel to $20, though this may be offset by rising oil prices.

The sanctions will take effect from March, allowing Russian oil cargoes booked before January 10 to unload at ports. India, which imports over 60% of Russia’s seaborne oil exports, does not expect any disruption to its oil supply in the next two months.

Related News
Trump Calls for Ukraine to Reach Peace Deal with Russia, Downplays Territorial Losses
Suspect emerges due to unchecked clearance to Pak cargo vessels in Bangladesh port by the Yunus administration
Federal Judge Orders Trump Administration Officials to Testify on Secretive Department of Government Efficiency
162 Assad Loyalist Rebels Executed in Syria
Netanyahu in Hospital Underground Amid Rocket Attack Fears
Attack on Dhaka Reporters Unity Today: Journalists Face Grave Threats in Bangladesh
Related Posts
U.S. Wants Greenland to Separate from Denmark
Trump Moves to Shut Down USAID
Glen Powell Excited for ‘The Running Man’ Remake
Israel Launches First Airstrike on Beirut After Ceasefire Agreement with Lebanon
Somalia Proposes Exclusive Control of Strategic Bases to the U.S.
Nepal Investigates Violence in Pro-Monarchy Protests
More News

Trump’s Return: A Turning Point for Middle East Policies?

Donald Trump’s potential return to the White House raises both hope and concern across the Middle East, as his leadership could reshape U.S. foreign policy in one of the world’s most volatile regions. Known for his unorthodox, transactional approach to diplomacy and a preference for aligning with strongman leaders, a Trump presidency could lead to […]

The United States Approves $4 Billion Military Aid to Israel

The United States is set to send $4 billion worth of military aid to Israel soon. U.S. Secretary of State Marco Rubio confirmed on Saturday (March 1) that he had signed an executive order authorizing the aid, according to British news agency Reuters. Rubio stated that he signed the order under emergency powers. Israel, one […]

Delhi Press Conference on Bangladesh Issue

India has emphasized that Bangladesh should not view terrorism as a normal issue. Indian External Affairs Minister S. Jaishankar conveyed this message to Bangladesh’s Foreign Affairs Advisor Touhid Hossain during a sideline meeting at the Indian Ocean Conference (IOC) in Muscat, Oman. At a press conference on Friday (February 21), Indian Foreign Ministry spokesperson Randhir […]

Vin Diesel Teases ‘Fast X: Part 2’ Release Date and Dwayne Johnson’s Return

Being part of a huge $7.3 billion movie series like Fast & Furious comes with a lot of challenges. Just ask Vin Diesel about the next movie, Fast X: Part 2. Vin Diesel posted on social media recently, giving hints about the release date, the return of Dwayne Johnson, and the plan for a two-part […]

Biden Vetoes Federal Judiciary Expansion Bill Amid Partisan Dispute

WASHINGTON – On Dec 23, President Joe Biden vetoed the Judges Act, a bipartisan bill that sought to add 66 new judgeships to understaffed federal courts across the United States. The legislation would have marked the first significant expansion of the judiciary since 1990. The Bill proposed increasing the number of trial court judges in […]

Millions Could Die if the U.S. Halts Aid, Warns UNAIDS Chief

The head of the United Nations’ AIDS agency has warned that millions of people could die if the United States halts its aid. Since taking office, former President Donald Trump significantly reduced U.S. contributions to global health initiatives, including those supporting HIV/AIDS treatment. According to Winnie Byanyima, the Executive Director of UNAIDS, the U.S. was […]

Islamic State Implicated in Deadly New Orleans Truck Attack

The radical Islamic State group, notorious for its reign of terror in Syria and Iraq, has been linked to a devastating truck attack in New Orleans that left 15 dead and around 30 injured. The suspect, Shamsud-Din Jabbar, a 42-year-old U.S. citizen from Texas and former Afghanistan serviceman, was reportedly flying an Islamic State flag […]

Amy Adams’ New Movie Nightbitch Confirms Release Date

Amy Adams’ much-anticipated film Nightbitch is set to debut on Disney+ on January 24, 2025, following a successful premiere at the Toronto International Film Festival and a limited American theatrical release. The movie will be available for UK and Irish audiences on the streaming platform later this month. Nightbitch follows the story of a woman […]

Ben Stiller and Robert De Niro to Return for Meet the Parents Sequel

Ben Stiller and Robert De Niro are set to work together again for a new Meet the Parents movie. The new film will be the fourth in the Meet the Parents series. Deadline reports that Stiller, De Niro, and other stars from the original films, Teri Polo and Blythe Danner, are in talks to return. […]

Donald Lu’s Tenure Ends: A Legacy of Unanswered Questions and Political Controversy

In the intricate dance of international diplomacy, the exit of Donald Lu from his position as Assistant Secretary of State for South and Central Asian Affairs has left a palpable imprint on the U.S.-Pakistan relations. Known for his fluency in Urdu and his deep engagement with the region, Lu’s tenure was anything but uneventful, culminating […]