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Investing.com -- The United States is considering potential sanctions against Russian oil companies Rosneft PJSC and Lukoil PJSC as leverage to push President Vladimir Putin toward a ceasefire agreement with Ukraine, according to a report from Bloomberg, citing sources familiar with the discussions.
The sanctions are among several options being weighed if Friday’s summit between President Donald Trump and Putin in Alaska fails to yield progress. Officials hope that such measures, if implemented, would be temporary due to concerns about their impact on global oil prices.
The two Russian oil majors collectively account for nearly half of Russia’s crude oil exports, representing approximately 2.2 million barrels per day during the first half of this year, based on Bloomberg estimates. Rosneft is state-controlled and led by Putin ally Igor Sechin, while Lukoil is privately held.
Other potential measures include additional restrictions on Russia’s shadow fleet of oil tankers and new tariffs on countries that purchase Russian oil, including China. Sources indicated that any implementation of these measures might be gradual.
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