Rosneft’s in the news as US sanctions target its oil giants amid Ukraine drone attacks and global energy chaos. Russia’s top oil firm, based in Moscow.
The US has issued a license to explore oil in Venezuela, while Russia's investments face US sanctions and US-backed actions. Moscow and Caracas maintain strategic ties, but US pressure threatens Russia's energy interests in the country amid geopolitical tensions.
Since early February, US sanctions and military actions have targeted Russia's energy sector and shipping, including seizing Russian oil tankers and blocking Starlink access. Russia criticizes these moves as illegal and aims to deepen ties with BRICS, while Ukraine peace talks remain stalled with a deadline set for June.
The US has extended a temporary waiver allowing India to buy Russian oil loaded before March 5, as global energy markets face turmoil from Middle East conflicts and Strait of Hormuz closure. The move aims to stabilize prices but raises concerns over sanctions and geopolitical risks.
On March 12, 2026, the US Treasury issued a 30-day waiver allowing countries to buy Russian oil already at sea to stabilize global energy markets disrupted by the Iran conflict. Treasury Secretary Scott Bessent emphasized the measure's limited benefit to Russia, applying only to oil in transit. This follows a similar waiver for India amid soaring oil prices and geopolitical tensions.
Ukrainian drone attacks have damaged Russian oil infrastructure, including ports and refineries, disrupting about 40% of Russia's oil exports. The strikes follow recent escalations and are part of Ukraine's efforts to weaken Russia's war financing. The attacks impact global energy markets amid rising tensions.
Oil prices have risen sharply as tensions escalate over the Strait of Hormuz. The US and Iran are engaged in a standoff that is disrupting global oil flows, with recent claims of open passage followed by attacks on ships. Markets remain volatile amid ongoing negotiations and military actions.
The Strait of Hormuz has been declared fully open for commercial vessels following Iran's announcement, leading to a sharp decline in oil prices. The move comes amid a ceasefire in Lebanon and ongoing US-Iran talks, with markets responding positively to the de-escalation of tensions.
Ukrainian drone attacks on the Tuapse refinery have caused a fire, oil spills, and environmental damage. Residents report black rain and toxic exposure, while authorities work to contain the fire and pollution. The incident marks the region's worst environmental disaster in recent years.