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Sanctions Slash Russian Oil Revenue by 21% Amid Conflict

11/21/2025

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Summary

Story summary

The U.S. Treasury Department analysis finds sanctions on Lukoil and Rosneft reduced Russia's oil revenue and constrained its war funding.
Urals crude prices have fallen at least 21% since the sanctions on October 22.
Major Indian and Chinese buyers are pausing December purchases of Russian oil.
Treasury Secretary Scott Bessent said the sanctions aim to pressure President Putin to end the conflict and could cut Russia's oil revenue 20%–30%.

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Story summary

The U.S. Treasury Department analysis finds sanctions on Lukoil and Rosneft reduced Russia's oil revenue and constrained its war funding.
Urals crude prices have fallen at least 21% since the sanctions on October 22.
Major Indian and Chinese buyers are pausing December purchases of Russian oil.
Treasury Secretary Scott Bessent said the sanctions aim to pressure President Putin to end the conflict and could cut Russia's oil revenue 20%–30%.