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Putin Responds to New U.S. Sanctions. President Vladimir Putin says Russia won’t bow to U.S. pressure but admits new sanctions could cause some losses. The U.S. sanctioned Rosneft, Lukoil, and their subsidiaries to pressure Moscow to end the war in Ukraine. The EU announced a phased ban on Russian liquefied natural gas alongside Washington’s measures. Global oil prices rose about 5% after the sanctions, reflecting fears of supply disruptions. India’s Reliance Industries and several Chinese state-owned oil companies are preparing to scale back Russian crude imports. The sanctions threaten a key sector that makes up roughly 20% of Russia’s GDP and funds much of its war effort. Putin warned that US actions would drive up energy prices and hinted at a strong response to any military escalation. Analysts say Russia may use intermediaries and its “shadow fleet” to bypass sanctions, though costs could rise.
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