U.S. Sanctions on Russian Energy Ripple Through Global Markets

The Kremlin has reacted to the latest U.S. sanctions targeting Russia's energy sector, warning of potential destabilization in global markets. The U.S. aims to curb Russia's war funding by sanctioning oil producers Gazprom Neft, Surgutneftegaz, and numerous vessels. Moscow pledges to mitigate the sanctions' impact.

The Kremlin has issued a stark warning following the imposition of new U.S. sanctions targeting the Russian energy sector. According to Kremlin spokesman Dmitry Peskov, these sanctions could destabilize global oil and energy markets. Moscow, he insisted, will do everything in its power to minimize the repercussions.

On Friday, the U.S. Treasury expanded its sanctions to include prominent Russian oil producers Gazprom Neft and Surgutneftegaz, alongside 183 vessels known for transporting Russian oil. The U.S. asserts that these sanctions aim to reduce Russia's financial capability to continue its military actions in Ukraine.

A U.S. official suggested that, if enforced properly, these sanctions could cost Russia billions in revenue each month. This financial hit is expected to significantly impact Russia's economy, challenging its capacity to sustain its geopolitical strategies.

(With inputs from agencies.)