Analysts say EU sanctions cannot stop Russian crude oil from entering the market.

The European Union approved the 18th round of sanctions against Russia last Friday, which includes including India's Nayara Energy company, which processes Russian oil, in the sanctions. John Kilduff, partner at New York's Again Capital, said, "The market currently believes that Russian oil supply will continue to flow into the market through various channels and has not caused excessive concern." Kremlin spokesperson Peskov said last Friday that Russia has developed "a certain immunity" to Western sanctions.