Russia's Oil Strategy Amid U.S. Sanctions

Russia faces U.S. sanctions on oil giants Rosneft and Lukoil, pressuring to reduce oil sales to India. Despite discussions with Donald Trump, no resolution to the ongoing Ukraine conflict has been achieved. Sanctions impact Russian oil revenue, offering options to cut exports or align resources with China.

Russia, a major global oil exporter, is grappling with U.S. sanctions impacting its leading oil firms, Rosneft and Lukoil, and the potential decline in sales to India, its largest buyer. The sanctions were imposed by the U.S. Department of the Treasury, urging Moscow toward a ceasefire agreement.

Despite extensive discussions between President Vladimir Putin and U.S. President Donald Trump, a breakthrough in resolving the conflict in Ukraine remains elusive. The sanctions aim to curb Russian military funding and target over 180 vessels involved in its oil exports, causing strategic challenges for Moscow.

India's decision to reduce Russian oil imports amplifies the pressure amid ongoing trade talks with Washington. Meanwhile, Russia is contemplating options like halting exports or cooperating with China in rare-earth metals to counteract the economic ramifications while maintaining crucial revenue streams for its budget.

(With inputs from agencies.)