VLADIMIR Putin has broken his silence on Donald Trump’s “act of war sanctions” against Russian oil by moaning they are an “unfriendly act”.
He tried to argue Russia’s economy will be unaffected by Trump’s bold measures – even as his customers and cash drain away before his eyes.
Trump on Wednesday blacklisted Russia two largest oil companies – Rosneft and Lukoil – in a show of mounting frustration with Putin, who just yesterday again violated Nato airspace.
Giving a speech in Moscow yesterday, Putin said “dialogue is always better than war” – but warned that Russia will never bow to pressure from abroad.
Earlier, his stooge Dmitry Medvedev had described Trump as a “talkative peacemaker” who had now “fully embarked on the warpath against Russia”.
Sanctions were slammed down shortly after plans for direct peace talks between Trump and Putin in Budapest collapsed.
Speaking after the Hungary summit was pulled, Trump said: “I have good conversations. And then, they don’t go anywhere. They just don’t go anywhere.”
The White House explained it was punishing Putin for his “lack of serious commitment to a peace process to end the war in Ukraine”.
The fallout for Russia bit almost immediately, and global oil prices surged nearly five per cent overnight on Wednesday.
China’s state oil giants froze Russian purchases and India – Moscow’s biggest remaining lifeline — is preparing to slash imports.
Together, Rosneft and Lukoil pump more than 3 million barrels of oil a day — about five per cent of global supply — and bankroll much of Russia’s war spending.
The sanctions freeze their US assets, bar all business with American firms, and threaten secondary sanctions against foreign banks that help process Russian oil trades.
Meanwhile, Lithuania reported that two Russian war planes violated its airspace on Thursday.
Spanish jets were scrambled to ward off the invaders – a Su-30 fighter and Il-78 refuelling tanker – which spent 18 seconds inside alliance territory.
Russia denied the encroachment, protesting the planes were on a “training flight” in the Kaliningrad region and did not breach the borders.
Despite his “everything is fine” front, Putin will no doubt be reeling from Trump’s recent sanctions.
Oil brings in around a third of Russia’s money, so any stemming of that cash flow will be a heavy blow.
Most concerningly for Vlad, his largest remaining lifeline, India, is preparing to slash imports of Russian oil.
Industry giants like Reliance Industries and Bharat Petroleum are quietly rewiring their supply chains to steer clear of the Kremlin’s freshly blacklisted oil majors.
According to traders quoted by Reuters, Reliance – India’s top buyer of Russian crude – “plans to reduce or stop imports of Russian oil” to comply with US sanctions.
State refiners are following suit, moving fast to cut direct dealings with Rosneft and Lukoil.
