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International Business Times
International Business Times
Business

US And EU Sanctions On Russian Oil And Gas: What Do We Know?

United States European Union Oil Russia Rosneft Lukoil Donald Trump Kremlin Elisabeth Braw Joe Biden
Russia's Lukoil oil giant now faces a major challenge from US sanctions ordered by President Donald Trump as the Ukraine war drags on (Credit: AFP)

The United States on Wednesday hit Russia's two biggest oil producers -- Rosneft and Lukoil -- with sanctions, the first against Russia since US President Donald returned to office.

The European Union has also announced a complete ban on Russian liquefied natural gas (LNG) imports by the end of 2026.

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