Russian President Vladimir Putin has dismissed newly announced U.S. sanctions targeting energy giants Rosneft and Lukoil as an "unfriendly act" but asserted they would fail to destabilize Russia's economy. Speaking in Moscow on October 23, Putin warned that Washington's measures risk exacerbating global oil market volatility, potentially driving prices upward amid supply concerns.
The sanctions coincide with U.S. President Donald Trump's decision to cancel a planned meeting with Putin in Budapest to discuss Ukraine conflict resolution. Analysts suggest the move reflects growing geopolitical friction, though Putin emphasized Russia's "resilient economic foundations" would mitigate long-term impacts.
Global energy markets are closely monitoring the situation, with Brent crude prices fluctuating amid uncertainty. Business leaders and investors remain cautious about potential supply chain disruptions, while political observers note the development underscores deepening U.S.-Russia strategic competition across Eastern Europe and energy markets.
