Microchip manufacturers Intel Corp., Advanced Micro Devices Inc. and Texas Instruments Inc. were accused in a series of lawsuits of failing to keep their technology out of Russian-made weapons used to kill and wound civilians in Ukraine. Those companies – along with a company owned by Warren Buffett’s Berkshire Hathaway Inc.  – demonstrated “willful ignorance” as third parties resold restricted chips to Russia to power drones and missiles in violation of US sanctions, according to one of the five suits, f ...

The latest US sanctions on two of the largest Russian oil companies are likely to shake up the market. This week, oil prices surged following the Trump administration's announcement of sanctions targ... ...

Core Insights - US sanctions on Russian energy companies are significantly impacting China's oil industry, with both state and private refiners facing challenges in maintaining supply while avoiding penalties [1][2] - Approximately 20% of China's crude oil imports, equating to about 2 million barrels per day in the first nine months of this year, originate from Russia, making it a crucial source for refining into products like diesel and gasoline [1] Sanctions and Compliance - The US government's blacklisting of Rosneft PJSC and Lukoil PJSC is part of broader sanctions aimed at reducing financial support for Russia's war efforts in Ukraine, requiring transactions with these firms to be concluded by November 21 [2] - Chinese and Indian companies risk severe secondary penalties if they continue dealings with sanctioned entities, which could result in exclusion from western banking systems and global commodities markets [3] Market Dynamics - Compliance with sanctions may lead to a loss of access to discounted oil supplies, which have been essential for keeping energy costs low for industries and consumers in China and India [5] - The involvement of Lukoil in significant projects, such as Iraq's Basrah project and the Caspian Pipeline Consortium, poses additional challenges for buyers outside China and India [5] Political Response - China has publicly opposed unilateral sanctions that lack international legal basis and have not been authorized by the United Nations Security Council, indicating a potential geopolitical tension surrounding these sanctions [6]