The United States has imposed new sanctions on Russian oil companies Rosneft and Lukoil, set to take effect on November 21 unless Russia halts the war. These sanctions are already pressuring the companies by impacting financial indicators and limiting their ability to conduct export operations.
Ukrainian President Volodymyr Zelensky stated that there have been no significant Russian advances on the front, although Russian military pressure is increasing. The Kremlin claims to remain open to diplomatic settlement but continues its military actions.
US sanctions have also affected India, one of the main buyers of Russian oil. Donald Trump claimed that India had stopped importing Russian oil, but these statements do not reflect reality. Shipping delays are linked to port capacity constraints, while record levels of Russian crude exports are attributed to strikes on Russian refineries and the need to redirect exports.
Lukoil has additionally declared force majeure at a major oil field in Iraq due to US and EU sanctions, leading Iraq to halt payments to the company. Mobilization challenges in Russia are increasing; a new law allows the deployment of reservists to guard facilities not only during wartime but also in peacetime. Reservist units are already being formed in many Russian regions.
Despite mounting economic pressure and a shrinking budget, the Kremlin has not changed its objectives regarding control over four Ukrainian regions and Crimea, continuing both military operations and diplomatic rhetoric about resolution.
