Russian Oil Giants "blush" Over New Sanctions

Lukoil and Rosneft shares collapsed.

Shares of Russian oil giants Lukoil and Rosneft are falling rapidly at the morning trading session on October 23 amid the introduction of new U.S. sanctions against them.

According to the portal Investing, shares of Lukoil have fallen by 4.37% since the beginning of trading, and Rosneft has lost 3.21%.

Shares of oil giants are in the "red zone" - among the leaders of the fall at the beginning of the session. Gazprom, VTB Bank and Sberbank, in particular, are among the leaders of the decline.

The holders of these securities - both Lukoil and Rosneft - are recommended to actively sell them.

On October 22, it became known that the United States will impose sanctions against the Russian companies Rosneft and Lukoil. The restrictions will also affect 28 subsidiaries of Rosneft and six of Lukoil.

U.S. President Donald Trump, commenting on the new restrictions, said he "just felt it was time." He also said a meeting with Russian dictator Vladimir Putin had been canceled.

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