New Delhi: US President Donald J. Trump’s administration on Wednesday issued the first round of sanctions targeting Russia since the American President assumed power at the White House for a second term this January.

Targeting two of the largest Russian oil companies—Rosneft and Lukoil—the sanctions are a statement of intent by Trump. The US President aims to curb the flow of oil, in a marked change of policy from his predecessor Joseph R. Biden Jr. While Biden had focused on curbing revenues of Russian oil majors, Trump’s move to restrict flow could potentially disrupt global energy markets.

Rosneft and Lukoil jointly account for nearly half of Russia’s crude oil exports, according to Bloomberg. The two along with state-owned energy company Gazprom are reportedly the largest companie

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