The United States’ decision to impose sweeping sanctions on Russia’s two largest oil producers represents more than just another economic penalty. It signals a fundamental change in the architecture of global power politics. For months, Washington had held back from targeting the Kremlin’s energy core, wary of triggering economic shocks or alienating key partners. But the latest sanctions on Rosneft and Lukoil mark the end of restraint and the beginning of an overtly coercive phase in the Western effort to reshape Moscow’s behaviour. This is not merely about oil.

It is about the leverage that oil has long given Russia, both as a weapon of influence and as a shield against international isolation. By striking directly at that revenue source, the US has chosen to undermine the financial arteries that sustain Russia’s prolonged war effort and its domestic stability. Yet, as with most economic warfare, the outcome will not be immediate or........

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