Mon Oct 27 09:48:58 UTC 2025: Here’s a news article summarizing the provided text:

U.S. Sanctions on Russian Oil Spark Global Reaction, Japan’s New PM Boosts Defense Spending

NEW DELHI, October 27, 2025 – The United States’ latest sanctions against Russian oil giants Rosneft and Lukoil are causing ripples across the globe, even as Japan inaugurates its first female Prime Minister.

Last week, U.S. President Donald Trump imposed sanctions on the two Russian companies, which account for a significant portion of global oil output, aiming to stifle funding for Russia’s ongoing war in Ukraine. The move immediately impacted global oil prices. Trump also claimed that India has agreed to curtail Russian oil imports significantly by year-end, urging China to follow suit.

While Indian refiners, including major player Reliance, are reportedly preparing to reduce Russian oil imports to comply with the sanctions, state refineries have yet to comment. The Congress party has criticized Prime Minister Narendra Modi for a lack of influence after Trump’s announcement at the ASEAN summit in Kuala Lumpur.

Russian President Vladimir Putin has vowed that Russia will not succumb to U.S. pressure but acknowledged potential economic hardship from the sanctions, particularly if China and India reduce their Russian oil purchases. Some reports suggest Chinese oil companies are already suspending purchases, and Indian refineries are considering a “massive cut” in Russian oil imports. The Hindu’s editorial board has cautioned that the sanctions’ effectiveness hinges on consistent enforcement and the closure of loopholes Moscow might exploit.

Meanwhile, in Japan, newly elected Prime Minister Sanae Takaichi has pledged to increase defense spending to 2% of GDP by March 2026, two years ahead of schedule. She also expressed commitment to security partnerships like the Quad, which includes India. A Japanese government spokesperson emphasized India’s crucial role as a leader of the Global South in promoting a Free and Open Indo-Pacific. However, while government ties strengthen, people-to-people connections between India and Japan appear to be lagging.

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