Trump sanctions Russian oil majors, prompting oil price rise and India jitters.

  President Donald Trump’s administration has imposed sweeping sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, in a dramatic effort to pressure Moscow to end its war in Ukraine.

 Sanctions Overview.

 The U.S. Treasury announced that all assets of Rosneft and Lukoil held in the United States are now frozen, and U.S. entities are barred from conducting business with themThese sanctions, the first imposed on Russia since Trump’s return to office, target the companies that together account for nearly half of Russia’s oil output and are considered financial pillars of the Kremlin’s military operations Treasury Secretary Scott Bessent stated that Washington was ready to take additional measures if necessary to “undermine the Kremlin’s war machine.

 Oil Market Impact

 Following the announcement, global oil prices surged by around 3%, with Brent crude rising above $64 per barrel, reflecting traders’ fears of supply disruptions from one of the world’s largest oil exporters.Analysts described this as a sharp reaction to the potential tightening of global crude supply chains.

 Implications for India.

 India, one of the largest importers of Russian crude, is now reassessing its purchasing strategy. State-run refiners are reviewing contracts to ensure that no supplies originate directly from Rosneft or Lukoil.President Trump said Prime Minister Narendra Modi assured him that India would “cut back significantly” on Russian oil imports, though not halt them entirely .Indian refiners are wary of secondary U.S. sanctions that could complicate payments or insurance for shipments.

  Strategic and Political Context.

 The sanctions mark a major policy reversal for Trump, who only last week had planned a peace summit with Russian President Vladimir Putin in Budapest but canceled it, citing frustration with Moscow’s failure to negotiate in good faith.The timing coincided with NATO talks in Washington, underscoring U.S. coordination with allies and a tougher multilateral stance against Russia.

 In summary, Trump’s sanctions represent a decisive escalation in U.S. pressure on Russia, triggering global oil market volatility and prompting India to recalibrate its energy imports amid fears of broader geopolitical and economic fallout.