U.S. decision to sanction Russia's two largest oil companies threatens to disrupt the energy lifeline of India and China, industry experts said.

Vladimir Putin responded to President Trump slapping sanctions on Russia's two biggest oil companies in a U.S. policy shift over the war in Ukraine.

U.S. crude prices were rising nearly 2% on Wednesday to above $58 a barrel on reports of progress in U.S.-India trade talks, which could include curbs on imports of Russian oil by India.

KALMYKIA (RUSSIA)- Over 50,000 devotees, many of whom waited in queues stretching up to one kilometer, have paid homage at a monastery here which is hosting an exposition of India’s Sacred Relics of Lord Buddha, an official said. The exposition from India has drawn an unprecedented response in the Republic of Kalmykia, Russia, he said.

Trump reiterated that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so