According to Treasury Secretary Scott Bessent, this measure was prompted by “Vladimir Putin’s refusal to end a senseless war” in Ukraine. The White House has indefinitely postponed the planned summit between President Donald Trump and Putin.
“Every time I talk to Vladimir, I have good conversations. And then they go nowhere. They just go nowhere,” Trump lamented.
In response to the Trump administration’s decision, the Russian Foreign Ministry said the new sanctions are “completely counterproductive,” including regarding negotiations to end the war in Ukraine.
Within that context, the Russian spokesperson, Maria Zakharova, maintained that the sanctions they will not “pose any particular problems” for the federation.
Zakharova expressed, in a press conference: “Our country has developed a strong immunity to restrictions Western countries and will continue to confidently develop its economic and energy potential.”
Eric de la Fuente, professor of International Relations at Florida International University (FIU), in an interview with DIARIO LAS AMERICAS points out that the impact of sanctions on Russian oil companies has been limited, largely because several countries, including Türkiye and the India, have bought russian oil not only for their own internal consumption, and they get it at good prices, also to refine it and resell it on the global market.
“This means that, in a certain way, Russian exports have not fallen as people were thinking and money continues to flow into Russia, which is what, mainly, finances the war,” he adds.
For the researcher, the fact that India and Turkey are considering not buying more oil from Russia is important on a financial level because Moscow would not continue to have as much money to pay for an almost four-year war. He indicates that this also gives a signal that Russia It will not be so easy for you to maintain the conflict.
“Russia’s strategy, which has not really been able to advance much in a long time, is that eventually the West will get tired of supporting Ukraine and that they will have money to hire mercenaries and hire more people within the country in poor areas because it does not want to touch Moscow and Saint Petersburg. And this sanctions thing is telling them that, if the oil is not bought and not so much money comes in, they should lower salaries within Russia so that people go to fight,” he indicates.
He says that Putin pays more than 20,000 mercenaries from Cuba plus thousands more from North Korea and other countries and a decrease in oil revenues “would limit him even more.”
On November 4, South Korean Intelligence reported that some 5,000 North Korean troops have been sent to Russia since last September.
“Russia would have more difficulties to continue financing the war in Ukraine. It doesn’t mean that that’s why the war is going to stop, The Kremlin is not going to stop the war. They are not interested in peace, they are interested in overthrowing the government of Ukraine, if they could not take over a country, they seek to overthrow the government,” Eric de la Fuente points out.
He indicates that part of the Russian strategy is that, since they cannot beat the Ukrainians on the battlefield, they cannot advance further, and they have been stagnant for a long time, they seek to “show that they will be there indefinitely to see how long the West finances aid to Ukraine.”
Situation in Russia
US oil sanctions put pressure on Russia and cut off a large supply that is part of the equation. Eric de la Fuente insists that The war will not end with these measures, nor will there be a ceasefire.
“The current situation is a loss for Ukraine, but it is also a loss for the Kremlin, which already controlled Crimea, already controlled part of Donbas. So, it has taken a little more territory, but not much more, a little more than it already had in 2014, the war began in 2014 and the total invasion was in 2022,” he indicates.
In this scenario, he points out, that The US tightens the screw and sends the message to Putin that, indefinitely, they will not have the money they thought they would have.
The analyst asserts that the only thing that would bring Putin to the negotiating table is for him to think that, within his countryyour power or control is in danger or there are doubts.
“This has two aspects: the most important is its inner circle, with which there are other sanctions that have not been announced. Here it is about the properties owned by Russian oligarchs, generals and colonels, who have properties abroad and travel,” explains the professor of International Relations at Florida International University.
In that order, the population is in second place and with less risk than Putin’s circle.
“Putin knows that the popularity of the war has fallen, although on Russian television they paint it as a war against the West and against the United States. But many people have died,” he says.
Attentive refineries
Turkish refiners began to reduce their purchases of Russian oil after the announcement of new US sanctions against Russian oil companies Rosneft and Lukoil.
In this way, one of the largest Turkish refiners, SOCAR Turkey Aegean Refinery (STAR), purchased four shipments of crude oil from Iraq, Kazakhstan and other non-Russian producers for arrival in December.
Türkiye, China and India are the main buyers of Russian oil.
Since the beginning of the war in Ukraine, Turkey has become one of the main destinations for Russian oil, amid secondary market discounts and its position as a country that does not adhere to Western sanctions.
In 2024, according to Deutsche Welle66% of the crude oil imported by Türkiye came from Russia.
India accused the West of “hypocrisy” and said the European Union (EU) continues to import energy from Russia despite drastically reducing its dependence since the start of the conflict.
According to New Delhi, Washington had actively supported its purchases of Russian oil after the invasion in order to stabilize global prices. Between 2021 and 2024, Russian crude oil exports to India grew almost 19 times: they went from 0.1 to 1.9 million barrels per day.
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