"If our oil and petroleum products volumes slump on the world market, it will lead to a spike in the price of oil and petroleum products, including at the gas stations, and the United States is no exception," the Russian leader said

Trump, who has to date not put sanctions on Russia over the war and instead relied on trade measures, says Rosneft and Lukoil will be targeted. Key US politics stories from…

The Trump administration could take an even harder line on Russia next year as the crude market faces a looming surplus.

"If our oil and petroleum products volumes slump on the world market, it will lead to a spike in the price of oil and petroleum products, including at the gas stations, and the…