Trump weighs Russia oil sanctions decision within 10 days
Trump is expected to decide within about 10 days whether to use sanctions powers against Russian oil and gas buyers, with India awaiting clarity. OI Charts data showed short covering in ONGC futures and long build-up in Reliance Industries futures.
after close2 sources ↓machine-written, see hownot a recommendation
- ONGC close
- ₹225.50
- On the day
- +1.28%
- Futures OI, short covering
- -1.5%
- Put-call ratio
- 0.50
- Max pain
- ₹225.00
US President Donald Trump is expected to decide within about 10 days whether to use new sanctions powers against countries buying Russian oil and gas, including India. US Ambassador to India Sergio Gor said the legislation requires a presidential determination within 30 days of taking effect, but stressed that no country has been sanctioned under the law so far.
The measure gives Washington authority to penalise countries purchasing Russian energy or helping others bypass existing sanctions. Gor said the provisions were not aimed at any particular country and that the stated objective was to help end the Russia–Ukraine war rather than punish buyers. Any decision on relief or an exemption for India would rest with Trump, leaving energy companies and refiners ⚡ exposed to policy-driven changes in sourcing costs, trade flows and compliance requirements.
Decision window in about 10 days is the immediate market trigger. Traders will also watch whether the US administration announces country-specific exemptions, clarifies the scope of secondary sanctions or identifies transactions that could attract penalties.
• ONGC closed at ₹225.50 on 14 Oct 2026, up 1.3% for the session, while its futures open interest fell 1.5%, a short-covering setup, according to OI Charts data. The stock remained 26.7% below its 52-week high of ₹307.50 and had declined 4.4% over 20 sessions.
• Reliance Industries closed at ₹1,175, up 0.7% on 14 Oct, with futures open interest rising 1.6% in a long build-up, OI Charts data showed. It was down 4.9% over 20 sessions and traded near its 52-week low of ₹1,152 recorded on 13 Oct.
For the 27 Oct expiry, ONGC’s options positioning showed a put-call ratio of 0.5, with the largest call open interest at ₹225, the largest put open interest at ₹220 and max pain at ₹225. Reliance Industries had a put-call ratio of 0.59, with call open interest concentrated at ₹1,250, put open interest at ₹1,160 and max pain at ₹1,200. These levels provide near-term positioning markers as the policy decision approaches, not forecasts of the eventual outcome.
The next decisive developments are Trump’s determination, any exemption for India and the effect on Russian crude purchases. The event could also influence sentiment across the wider energy and refining chain. 🛢️
Source: Deccan Chronicle and Outlook India, 15 Oct 2026.
Not investment advice. For informational purposes only.