Big Oil CEOs Warn Trump’s Russia Sanctions Will Hit Supplies

Oil supply will be hit by US President Donald Trump’s sanctions on Russia’s two biggest producers, according to the CEOs of major energy companies.

The curbs on Rosneft PJSC and Lukoil PJSC, which account for about 60% of Russia’s supply, will delay cargoes and slow down trade, TotalEnergies SE Chief Executive Officer Patrick Pouyanne said at the Adipec conference in Abu Dhabi on Monday. The restrictions are serious and dampening supply, said BP Plc boss Murray Auchincloss.