U.S. decision to sanction Russia's two largest oil companies threatens to disrupt the energy lifeline of India and China, industry experts said.

Russia, the world's second largest oil exporter, is weighing how to respond to U.S. sanctions on top oil firms Rosneft and Lukoil and the prospect of lower sales to its biggest buyer, India.

U.S. crude prices were rising nearly 2% on Wednesday to above $58 a barrel on reports of progress in U.S.-India trade talks, which could include curbs on imports of Russian oil by India.

KALMYKIA (RUSSIA)- Over 50,000 devotees, many of whom waited in queues stretching up to one kilometer, have paid homage at a monastery here which is hosting an exposition of India’s Sacred Relics of Lord Buddha, an official said. The exposition from India has drawn an unprecedented response in the Republic of Kalmykia, Russia, he said.

When asked about India’s statement denying any such conversation, Trump replied, “But if they want to say that, then they'll just continue to pay massive tariffs."