The Kremlin was among a handful of countries noticeably exempt from Trump’s decision to slap a 10% baseline tariff on all imports to the US, as well as higher duties on some of its biggest

Markets were stunned when OPEC+ when chose not only to go ahead with its plans to raise oil production, but also to nearly triple the expected increase figure.

President Donald Trump said he’s “pissed off” at Russian President Vladimir Putin and would consider “secondary tariffs” on Russian oil if a ceasefire with Ukraine can’t be reached, NBC News reported.

Oil diplomacy could become a hallmark of Donald Trump's second term in office, if the last few weeks are any guide, but energy markets have mostly shrugged off his recent whirlwind of threats against Iran and Russia.

Russia and North Korea were excluded from Trump's tariff list as neither country engages in meaningful trade relations with the United States.

Russia is one of the world’s three largest oil producers, meaning any attempt to punish purchases of Russian supplies could have a far-reaching effect on the oil market.

Trump said he was very angry after Putin last week criticized the credibility of Ukrainian President Volodymyr Zelenskiy's leadership.

Years of increasingly severe sanctions may have made its inclusion in Donald Trump’s tariffs list unnecessary, but Russia has nevertheless managed to import goods for $22 billion into the United States since 2022,

Russian oil and gas revenue fell by 17% year-on-year in March to 1.08 trillion rubles ($12.8 billion), as forced discounts on crude and a stronger ruble hit budget inflows, the Moscow Times reported on April 3,

Oil prices fell on Thursday as the decision by the OPEC+ group to speed up unwinding of oil output cuts in May compounded already heavy losses following U.S. President Donald Trump's announcement of sweeping new import tariffs.