Global Tensions Surge as EU and US Impose New Sanctions on Russia

The European Union and US have imposed new economic sanctions on Russia, focusing on its oil industry, to pressure President Putin into ending the invasion of Ukraine. While Russia's economy shows resilience, these measures aim to reduce Moscow's aggression. The situation remains volatile as diplomatic efforts stall.

The European Union has intensified economic sanctions on Russia, complementing the recently announced U.S. sanctions targeting Russia's oil industry. President Vladimir Putin of Russia criticized these measures, warning that they could destabilize global oil markets.

The sanctions aim to cut off revenue streams supporting Russia's ongoing military activities in Ukraine. As these restrictions are set to take effect on November 21, the coming weeks are crucial for potential diplomatic negotiations.

Despite the sanctions, analysts question their effectiveness in altering Russia's course, as its economy, though strained, continues to demonstrate resilience. The geopolitical tension heightens as international stakeholders, including China and India, grapple with their positions on Russian oil imports.

(With inputs from agencies.)