Russian Oil Companies Face Sanctions, India ThreatenedUS Imposes Sanctions on Russian Oil Giants Rosneft and Lukoil; Trump Threatens India with Higher Tariffs.
SNPNEWS.IN (Gurmail Kamboj): US President Donald Trump added a new chapter to the sanctions imposed on Russia amid the Russia-Ukraine war on October 22, 2025. He announced sanctions on Russia’s two major companies, Rosneft and Lukoil.
These two Russian companies account for approximately 65-70% of Russia’s crude oil production. In addition, their partner companies operating outside Russia have also been targeted. A significant portion of Russia’s economic revenue comes from energy sector exports (oil and gas). These sanctions are expected to deal a major blow to Russia in the future.
Earlier last week, Britain imposed sanctions on these companies. The European Union had already banned Rosneft, and in its new 19th sanctions package, it has banned Russian LNG imports, targeted Gazprom Neft, and sanctioned Russian banks. However, Hungary and Slovakia have been given exemptions.
Following the sanctions, US citizens and companies are prohibited from doing any business with these two Russian companies. Their assets in the US have been frozen. Foreign banks and financial institutions involved in trade with them—especially those in China, India, and Turkey that facilitate Russian oil sales—have been threatened with additional tariff burdens.
The impact of these sanctions on India is considered inevitable, as India imports 36% of its crude oil needs from Russia, which is available at a discount and provides economic benefits to India. Now, India will have to strongly shift focus to other oil-exporting countries, which will impose an economic burden on Indian refineries. The day after the US decision, global crude oil prices rose by 5-6%.
Read It: America Imposed 26% Tariff On India
The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed these sanctions on October 22, 2025. The announcement was made by President Trump as part of a policy adopted due to frustration with Russian President Vladimir Putin over the Ukraine war following their meeting. Trump stated that these sanctions are intended to force Russia into peace negotiations.
On October 19–20, Trump repeated in a Fox News interview that Indian PM Narendra Modi had assured him that India would reduce Russian oil purchases. He warned that if India does not stop, “massive tariffs” would be imposed, which would damage the Indian economy. Trump also claimed to have threatened 200% tariffs to prevent tensions between India and Pakistan, a claim rejected by India. He has also linked India’s participation in BRICS (India-Russia-China group) to tariffs.
India has called Trump’s threats “blunt coercion” and stated that purchasing Russian oil ensures affordable and secure energy for Indian consumers. The Ministry of External Affairs said India wants a trade deal with the US but will protect its own interests.