Indian refiners are reportedly preparing to sharply curtail imports of Russian oil. (Photo source: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

US President Donald Trump on Oct. 22 imposed new sanctions on Russia for the first time in his second term. The "tremendous" new sanctions target Russia’s two largest oil companies, Rosneft and Lukoil, in a bid to pressure President Vladimir Putin into ending the war in Ukraine. US Treasury Secretary Scott Bessent said these companies were helping fund the Kremlin’s “war machine.”

According to The New York Times, the sanctions are among the most significant taken against the Russian energy sector since the war began.

Why Is India Impacted By These Sanctions?

India is one of the largest buyers of discounted seabor

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