Oil prices rose on Thursday and the dollar index held below two-year highs after the United States issued another round of sanctions on Russia.
Benchmark Brent crude futures climbed 0.9 percent to $101.99 per barrel, while WTI crude futures were up 0.8 percent at $96.97.
Washington announced new measures including sanctions on Russian President Vladimir Putin’s two adult daughters and a major bank. However, the European Union failed to approve a new round of sanctions including on Russian coal.
Speaking at a NATO meeting, top EU diplomat Josep Borrell said the package could be passed on Thursday or Friday.
The democratic world must stop buying Russian oil and completely block Russian banks from the international finance system, Ukraine President Volodymyr Zelenskyy said in his daily video address early today.
“Some politicians are still unable to decide how to limit the flow of petrodollars and oil euros to Russia so as not to put their own economies at risk,” he said.