US Sanctions Proposal on Russian Oil Puts Europe On the Spot

The European Union is weighing sanctions on companies in India and China that are enabling Russia’s oil trade as part of an upcoming package of fresh restrictions, Bloomberg has learned.

US President Donald Trump said over the weekend that he’s prepared to move ahead with “major” sanctions on Russian oil if European nations do the same. The penalties would target the energy trade that’s crucial to financing President Vladimir Putin’s war on Ukraine, particularly buyers from China and India.