On paper, America’s sanctions are the most potent imposed on Russia since 2022. They threaten to cut off from American finance anyone, even foreigners, who facilitates sales by the two giants, which together account for half of Russia’s crude exports.

A Treasury Department analysis indicates that new U.S. sanctions on Russian oil producers have sent prices there tumbling, choking off a key revenue source that Russia has used to fund its war in Ukraine.

LONDON, Dec 4 (Reuters) - Britain on Thursday announced new sanctions against Russia, including the entire GRU military intelligence agency, which was singled out in a UK public inquiry into the 2018 death of a woman poisoned by the nerve agent Novichok.

US sanctions on Russia’s space industry triggered a rapid restructuring, focused on domestic production, Chinese cooperation, and new partners across the Global South. Few observers expected Western sanctions to hit Russia’s space sector as hard—or as quickly—as they did in 2022.

Global revenues of weapons companies soared to a record $679 billion in 2024 driven by wars in Ukraine and Gaza and Europe’s rearmament.

Rep. Brian Fitzpatrick (R-Pa.) on Friday said he has submitted a discharge petition to force a vote on bipartisan legislation imposing punishing sanctions on countries enabling Russia’s war against Ukraine.

WASHINGTON, Dec 4 (Reuters) - The Trump administration on Thursday authorized transactions with Lukoil retail gas stations outside of Russia, issuing a narrow waiver to sanctions the U.S. imposed in October for the role the company's revenues play in supporting Moscow's war in Ukraine.

US authorities have temporarily eased sanctions on Lukoil-branded fuel stations outside Russia, allowing them to operate until April 2026. This move impacts stations in the US and elsewhere, while India faces a significant drop in Russian crude imports due to sanctions on Lukoil and Rosneft,