On October 22, when U.S. Treasury Secretary Bessent announced sanctions on Russian petroleum companies and Lukas Petroleum, the international energy market immediately exploded.

The crude oil exports of these two companies account for nearly 50% of Russia's total exports. As soon as the news of sanctions broke, the main contract price of Shanghai crude oil futures closed up more than 4% on the 23rd, and Brent crude oil once rose more than 5%.

On the same day, the European Union passed the 19th round of sanctions on Russia, for the first time banning Russian liquefied natural gas from entering the European market.

Dramatically, Trump and Putin, who originally announced that they would meet in Budapest, suddenly went yellow.

Trump also announced in a phone call last week that he would meet in Budapest, Hungary's capital, but on the 22nd he changed his mouth to say "it's not appropriate to meet Putin now" on the grounds that "it's not possible to the goal."

A senior White House official said the decision was made after Secretary of State Rubio spoke to Russian Foreign Minister Lavrov.

Lavrov said on the phone that implementing the substance of what was previously reached in Alaska is more important than determining the time of the meeting.

At the same time that Trump canceled the summit, the sanctions stick also waved down. In the statement, Bescent accused Russia of refusing to cease fire and accused sanctioned Russian oil companies of providing funds for Russia's special military operations against Ukraine.

However, Trump himself said he hoped these sanctions would not last long. These words sound a bit contradictory. While sanctioning and saying that they don't want to last for too long, what's the plan?

The EU is not idle either. On the 22nd, EU member states approved the 19th round of sanctions against Russia. The sanctions include banning the import of Russian liquefied natural gas. This is the first time that the EU has cracked down on the Russian natural gas industry.

The 19th round of EU sanctions on Russia included 69 additional individual sanctions and a number of economic restrictions, mainly targeting Russia¡¯s energy, financial and military industries, and placing 117 vessels on the list of Russia¡¯s Shadow Fleet.

After the sanctions, the market immediately reacted, on the 23rd Shanghai crude oil futures mainstream contract closing price increased by more than 4%, coal coal futures mainstream contract increased by more than 5%, and Brent crude oil price increased by more than 5%.

As a European indicator, the price of North Sea Brent futures contracts delivered in December increased by 6% from the previous day, reaching the range of $66.0 to $66.4 per barrel, a new high in two weeks.

What's more interesting is the attitude of China and India. These two countries have always been big buyers of Russian oil. As soon as the US sanctions came out, news spread in the market that China and India had suspended imports of Russian oil.

Trump also claimed on Friday that Indian Prime Minister Modi promised him not to buy Russian oil in the phone, but the Indian Foreign Ministry rejected it, saying he did not know the phone call, and that New Delhi's main concern was "to protect the interests of Indian consumers."

Asked about this on the 19th, he responded harshly: "If they want to say that, they can only continue to pay huge tariffs, and they don't want to do that."

Russia is not an easy runner. Russia's Presidential Special Representative for Foreign Investment and Economic Cooperation Kirill Dmitriyev arrived in the United States on the 24th at the invitation of the United States for formal talks.

He made it very clear that the statement that the summit was cancelled was not accurate and the two sides were still communicating in detail. he warned the United States that sanctions on oil would disrupt the balance of the global energy market, "that would ultimately lead to US gasoline prices rising and damaging the interests of American consumers."

This is not an empty word, Russia's oil production accounts for about 12% of the world, the world's second-largest oil producer. Once such a large supply is limited, the global energy market must follow.

On the same day, Russia also conducted a strategic nuclear force exercise and launched an intercontinental ballistic missile.This time was subtly selected, both in response to Western sanctions and showing muscles.

The Russian Federation Vice Chairman Kosachev said it more directly: Not only will the implementation of new sanctions by the United States not promote the success of the Ukraine negotiations, but will bring Trump himself closer to his loathe Biden position.

Now the situation is like this: the sanctions on the European side shouted to negotiate, and Russia on the other side warned that the door to the dialogue was not closed.

As international oil prices rise, it is not only Russia that is affected, but consumers around the world have to pay out.

Sanctions are a double-edged sword, which will hurt yourself when swinging them at others. Energy circulates all over the world, affecting the whole body. Sanctions imposed by the United States and Europe on Russian oil may put pressure on Russia in the short term, but the stability of the global energy market is the key in the long run.

After all, oil prices have risen, and the average people are still paying in the end, hoping that all parties will find a solution to the problem as soon as possible, so that the international energy markets can quickly restore stability.