---
title: "International oil prices surged over 5% as the U.S. imposed new sanctions on two major Russian oil companies"
description: "International oil prices surged over 5% due to new sanctions imposed by the United States on two major Russian oil companies. Brent crude oil prices rose by 5.1%, reaching $65.78 per barrel; New York "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262394706.md"
published_at: "2025-10-23T09:41:23.000Z"
---

# International oil prices surged over 5% as the U.S. imposed new sanctions on two major Russian oil companies

> International oil prices surged over 5% due to new sanctions imposed by the United States on two major Russian oil companies. Brent crude oil prices rose by 5.1%, reaching $65.78 per barrel; New York crude oil increased by 5.2%, reaching $61.44. Major U.S. oil companies such as Exxon Mobil, Chevron, and ConocoPhillips saw their stock prices rise. The sanctions aim to encourage Russia to negotiate a peace agreement regarding Ukraine, and India's Reliance Industries will suspend imports of Russian oil

Two major Russian oil companies have been subjected to new sanctions by the United States. The price of Brent crude oil rose by 5.1% during electronic trading today (23rd), currently reported at $65.78 per barrel. New York crude oil is reported at $61.44, up 5.2%.

Major U.S. oil prices are performing well before the market opens, with Exxon Mobil (XOM.US), Chevron (CVX.US), and ConocoPhillips (COP.US) rising by 1.2% to 1.5%, and Occidental Petroleum (OXY.US) up 2.9%.

The U.S. Treasury Department announced a new round of sanctions against two major Russian oil companies, Rosneft and Lukoil, aimed at forcing Russia to negotiate a peace agreement regarding Ukraine.

According to sources cited by Reuters, due to U.S. sanctions, India's Reliance Industries will suspend imports of Russian oil based on its long-term agreement with Rosneft

### Related Stocks

- [XOM.US - Exxon Mobil](https://longbridge.com/en/quote/XOM.US.md)
- [CVX.US - Chevron](https://longbridge.com/en/quote/CVX.US.md)
- [COP.US - ConocoPhillips](https://longbridge.com/en/quote/COP.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.