The USA has implemented sanctions targeting Russia's two largest oil companies, Rosneft and Lukoil, to reduce Russia's oil revenue by 20% to 30%. India and China, which import most of Russia’s maritime oil exports, have decreased their purchases, influencing Russia’s crude export revenues to drop about 20%. President Vladimir Putin denies that these sanctions will force Russia to stop its military operations in Ukraine, while former Donald Trump has proposed a peace deal involving territorial concessions and military reductions in Ukraine.