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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida and Jillian Ambrose

Oil price jumps and FTSE 100 hits new high after Trump puts sanctions on Russian firms

Oil United States Donald Trump Rosneft Lukoil Russia Vladimir Putin European Union
A Rosneft crude oil tanker.
American companies and individuals will be barred from doing business with Rosneft and with Lukoil. Photograph: Yoruk Isik/Reuters

Oil prices jumped and energy companies helped the FTSE 100 to a record high after Donald Trump announced new sanctions on Russia’s two biggest oil producers.

Brent crude increased by 5.7% to $66.13 a barrel after the news of the fresh restrictions on Rosneft and Lukoil, as the US president ramps up pressure on Vladimir Putin to end the war in Ukraine.

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