U.S. President Donald Trump's administration has prepared additional sanctions it could use to target key areas of Russia's economy if President Vladimir Putin continues to delay ending Moscow's war in Ukraine,

A spokeswoman for Russia’s foreign ministry called the new U.S. sanctions targeting the country’s two largest oil companies “entirely counterproductive,” but dismissed their possible implications. “Our country has developed a strong immunity to Western restrictions and will continue to confidently develop its economic and energy potential,

Russian drones attacked the Ukrainian capital for the second night in a row on October 22, injuring four people, officials said within hours of an announcement from Washington imposing sanctions on Russia’s two largest oil companies.

Russian exporters are continuing to load crude onto tankers, but refiners are less willing to take the cargoes into their storage tanks

Oil prices jumped on Thursday after the U.S. imposed sanctions on major Russian oil companies over Russia's war in Ukraine. Brent crude futures were up 5%, while West Texas Intermediate crude futures climbed more than 5.2% as of Thursday morning.