%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Crude prices are up more than 5% on news that the Trump administration has imposed further sanctions on Russia's two largest oil companies. U.S. President Donald Trump said the new sanctions are the result of Russia failing to end its war in Ukraine and not taking a proposed peace plan seriously. News of the sanctions on Russia's oil companies has sent the price of Brent crude oil, the international standard, up 5% to $65.79 U.S. per barrel. West Texas Intermediate (WTI) crude oil, the U.S. benchmark, is also up 5% and trading at $61.75 U.S. a barrel. The Trump administration said the new sanctions will harm Russia's ability to raise revenue to fund its ongoing war against Ukraine. The sanctions also come after a planned meeting between Trump and Russian President Vladimir Putin in Budapest, Hungary fell through. Trump continues to pressure India to stop buying Russian crude oil on the open market. India continues to be one of the biggest purchasers of Russian crude. The latest rise in crude oil prices comes after they had fallen about 15% this year as OPEC+ continues to increase its production and energy demand in China slows.