By Guy Faulconbridge, Alexander Ershov and Vladimir Soldatkin

MOSCOW (Reuters) -Russia, the world’s second largest oil exporter, is weighing how to respond to U.S. sanctions on top oil firms Rosneft and Lukoil and the prospect of lower sales to its biggest buyer, India.

President Vladimir Putin, who sent troops into Ukraine in 2022, has been in discussions with U.S. President Donald Trump for months about a possible way to end the war but with no breakthrough so far.

WHAT DID THE U.S. DO?

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on October 22 imposed sanctions on Rosneft and Lukoil and a number of their subsidiaries as it called on Moscow to immediately agree to a ceasefire.

The two firms account for around a half of Russia’s oil production and mor

See Full Page