Oil Prices Rise After US Imposes Sanctions on Russian Firms
The price of oil has increased after the United States imposed restrictions on Russia’s two largest energy companies, intensifying pressure on Moscow to engage in talks to end its conflict in Ukraine.
The new measures against Rosneft and Lukoil mark the first such actions by the US since the current administration took office in January. Assets owned by the two firms in the US have been blocked, and American businesses and citizens are now prohibited from dealing with them.
Notably, the US is also warning of penalties against foreign financial institutions that continue transactions with these companies—potentially affecting banks assisting in Russian oil sales to countries such as China, India, and Turkey.
Reports indicate that Indian state-owned refiners are evaluating their oil purchases from Russia to confirm that none originates directly from Rosneft or Lukoil.
Following the US announcement, Brent crude rose by 3.8% to $64.95 per barrel, adding to a 2% gain from the previous day.
This rebound moves oil prices away from the five-month low of $60 reached earlier in the week, which had raised expectations of declining inflationary pressures.
Read next
"Nations weigh halting Russian oil and gas purchases as Trump sanctions take quick effect"
Donald Trump’s efforts to mediate peace in Ukraine may hinge on one critical issue: can the U.S. leader persuade nations to reduce their reliance on Russia’s energy exports?
Recently, Trump introduced sanctions against two of Russia’s biggest oil firms, Rosneft and Lukoil, aiming to weaken Moscow’
"Risks of centrist economics in a divided world"
Navigating the economic landscape as a centrist thinker is challenging in today’s politically charged environment, where every viewpoint is quickly categorized into rigid ideological positions. A sentiment often linked to Leon Trotsky applies here—centrist economists may avoid conflict, but conflict finds them regardless.
Take, for example, my 2016
"Bloomsbury head suggests AI aids writers in overcoming block"
Artificial intelligence may assist authors in overcoming creative hurdles, according to the head of the publishing company Bloomsbury.
Nigel Newton, founder and chief executive of the firm behind the *Harry Potter* series, suggested that while AI could support various creative fields, it would not replace well-known writers entirely.
"AI