The United States sanctions against the largest russian oil companies Rosneft and Lukoil, as well as their numerous subsidiaries, officially come into effect today, November 21. From now on, all American companies are obliged to completely stop any cooperation with these structures, and their assets in the United States are subject to blocking.
The US Department of the Treasury emphasized that the introduced restrictions increase pressure on the russian energy sector and directly limit the Kremlin's ability to finance military operations. According to Secretary of the Treasury Scott Bessent, Washington is ready to resort to further measures if Moscow does not agree to end the war.
"We call on allies to join us. The sanctions against the two largest russian oil companies are aimed at stopping the financing of the Kremlin's war machine," Bessent said.
All entities in which Rosneft or Lukoil own more than 50% of the capital are automatically subject to restrictions. Counterparties that do not stop interacting with the companies face being cut off from the dollar financial system.
At the same time, according to Bloomberg, the US has extended the deadline for sanctions against russia's Lukoil to December 13, so that the oil company can sell international assets.
The US decision is already having a significant impact on global markets. According to Reuters, leading Chinese state-owned energy companies - PetroChina, Sinopec, CNOOC and Zhenhua Oil - have temporarily suspended purchases of russian oil delivered by sea due to the risk of secondary US sanctions. Indian refineries are also reviewing existing contracts for compliance with the new restrictions.
OFAC analysis shows that since the sanctions were announced on October 22, key russian crude prices have fallen to their lowest levels in years, and a number of major buyers, both in China and India, have announced plans to reduce or suspend purchases starting in December. At the same time, Finnish gas station operator Teboil, owned by russia's Lukoil, said it was preparing to shut down operations due to fuel shortages amid US sanctions against its parent company.
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