The Russian oil business is under pressure: The US hopes that Europe will join secondary sanctions against buyers of Russian oil.

US Treasury Secretary Scott Bessent said that the Washington expects its European allies to join potential secondary tariffs against countries that help Russia, particularly by purchasing its oil. These sanctions could be implemented if Russia does not meet the conditions of Trump’s ultimatum and continues the war. “Any country that buys Russian oil subject to sanctions will face secondary tariffs of up to 100%”, the secretary noted.

Meanwhile, Republican Senator Lindsey Graham welcomed the EU’s decision to reduce the maximum price for Russian oil from $60 to $47.6 per barrel but called for a total halt of Russian hydrocarbon purchases until Putin agrees to sit at the peace table.

In parallel, Britain has imposed new sanctions designed to increase pressure on Russia’s vital oil sector, affecting numerous companies and 135 ships in the shadow fleet. These vessels have illegally transported $24B worth of Russian oil since 2024.

Additionally, Russia’s Rosneft faces new EU sanctions that threaten its plan to sell its 49.13% stake in India’s Nayara Energy. Rosneft seeks to sell its stake because it hasn’t been able to extract profits from India for several years.

Furthermore, due to EU restrictions, energy giant BP has refused to buy 60,000 tons of diesel from the Nayara Energy refinery in India.