Oil prices have risen significantly after the US imposed sanctions on the Russian companies Rosneft and Lukoil due to the war in Ukraine.

Oil prices recorded an increase of over 1 dollar per barrel, after the United States imposed sanctions on the Russian oil companies Rosneft and Lukoil, in response to the war in Ukraine. Futures contracts for Brent crude rose by 1.76 dollars, reaching 64.35 dollars, while those for West Texas Intermediate increased by 1.68 dollars, reaching 60.18 dollars. The U.S. announced that it is prepared to impose additional measures and called on Russia to accept a ceasefire. Treasury Secretary Scott Bessent emphasized that the sanctions target companies that support the Kremlin's war machinery. Additionally, the European Union approved a 19th package of sanctions against Russia, which includes a ban on imports of Russian LNG. Although the sanctions have led to an increase in oil prices, analyst Tony Sycamore mentioned that this increase was relatively modest, considering the difficulties in enforcing previous sanctions.