 "5 reasons not to worry about oil prices, for now")
The US has imposed new sanctions on Russia’s two biggest oil companies to push Moscow toward a peace deal in Ukraine.
The move came a day after US President Donald Trump said his planned meeting with Russian President Vladimir Putin in Hungary’s Budapest had been postponed indefinitely.
“Whenever I talk to Vladimir, the conversations are good, but nothing comes of them,” Trump said.
Here are 5 reasons why India should worry about oil prices — for now
1. Indian contracts secured till November 21
Indian refiners have already locked in crude supply contracts until November 21, ensuring stable imports in the near term.
2. Prices still in a manageable range
Global oil prices remain in the $60s. Even if they rise to $70 a barrel, India’s economy and pricing systems can handle the increase.
3. Russian crude will likely keep flowing
Despite sanctions, Russian oil has always found alternative routes to reach global markets, and that trend is expected to continue.
4. Oil PSUs are on solid ground
State-run oil companies currently face no under-recoveries, allowing them to absorb moderate price hikes without passing the burden on to consumers.
5. Election season effect
With elections approaching, fuel prices in India are unlikely to rise, as the government and PSUs typically avoid rate hikes during this period.
A major shift in Trump’s foreign policy
While the sanctions’ economic impact on Russia may be limited, they represent a clear change in Trump’s foreign policy stance. He had previously said he wouldn’t act until European nations stopped buying Russian oil. The Kremlin dismissed the move, saying Russia was “immune” to the sanctions.
The announcement follows similar steps by the UK against Rosneft and Lukoil, and a new EU plan to ban imports of Russian liquefied natural gas from January 2027.
Impact Shorts
More ShortsTrump had long held off on tougher action, hoping to broker a peace deal in the three-and-a-half-year conflict. His administration has tried to position the US as a neutral mediator, unlike his predecessor Joe Biden’s staunch support for Ukraine.
But growing frustration with Moscow’s lack of progress has pushed Trump to act. Ukrainian President Volodymyr Zelensky welcomed the sanctions, calling them a “good signal” and suggesting that a ceasefire could follow if more nations ramped up pressure on Russia.
‘Time to act,’ says Trump
On Wednesday, Trump criticised Putin for not being serious about peace and said he hoped the sanctions would trigger progress.
“I just felt it was time. We waited a long time,” he said, describing the package as “tremendous” and suggesting it could be lifted if Russia agreed to end the war.
US Treasury Secretary Scott Bessent added that the measures were necessary due to “Putin’s refusal to end this senseless war.”
 "As GOP vs Democrats gridlock continues, will govt shutdown break first Trump presidency record?")
 "‘All is not well with the UN’: Jaishankar’s stark reminder on United Nations’ 80th foundation day")
 "Will Trump’s oil sanctions on Russia hurt Putin and his plans for Ukraine war?")
 "The East Wing that was: Trump erases the last chapter of First Lady's domain in White House")
 "As GOP vs Democrats gridlock continues, will govt shutdown break first Trump presidency record?")
 "‘All is not well with the UN’: Jaishankar’s stark reminder on United Nations’ 80th foundation day")
 "Will Trump’s oil sanctions on Russia hurt Putin and his plans for Ukraine war?")
 "The East Wing that was: Trump erases the last chapter of First Lady's domain in White House")
