Days after canceling a planned summit with Putin, citing a lack of progress toward ending the war in Ukraine, Trump took a major step by effectively blacklisting Rosneft and Lukoil.

Reliance Industries vows compliance with new US, EU restrictions on Russian oil. Facing Western sanctions on Rosneft and Lukoil amidst geopolitical tensions, Reliance assesses impacts and shifts its purchasing strategy.

Bulgaria is preparing measures to secure uninterrupted supplies of oil and oil derivatives after the U.S. imposed sanctions on Russia's Lukoil , which runs the country's biggest oil refinery, Energy Minister Zhecho Stankov said on Friday.

President Donald Trump imposed sanctions on Russia's largest oil companies Rosneft and Lukoil while canceling his planned summit with Russian President Vladimir Putin.

Bulgaria strategizes to secure oil supplies after US sanctions on Lukoil, impacting its energy market and causing oil prices to rise.Bulgaria Plans for Continuous Oil Supply as Lukoil Faces Sanctions

The statement comes a day after the US imposed sanctions on Russian oil giants Rosneft and Lukoil, which account for over two-thirds of India’s oil imports from Russia—currently the biggest supplier of crude oil to India with a market share of over 35 per cent.

The European Union has agreed on a new raft of sanctions against Russia, targeting its shadow fleet of oil tankers and banning its imports of liquefied natural gas, the Danish EU presidency has announced.