US Republican Senator Lindsey Graham called on the Biden administration to impose sanctions on the Russian energy sector while at the same time ramping up the American energy production.

Key quotes

“We’re not using the energy sector as a weapon”

“We’re failing to hit (Russian President Vladimir) Putin where it hurts the most.”

Market reaction

The market mood remains cautiously optimistic, with hostilities still going on between Russia and Ukraine, despite the negotiations and the expected second round of talks in ‘the coming days.’

The Asian stocks are rebounding 0.80% to 1.50% while the S&P 500 futures are defending the bids around 4,375.