The Trump administration announced sweeping sanctions on Wednesday against Russia’s two largest oil companies, Rosneft and Lukoil, as part of renewed efforts to pressure Moscow into halting its war with Ukraine. President Donald Trump said he had “waited a long time” before imposing the measures but felt “it was time,” adding that he hopes the sanctions will not need to remain in place once the conflict ends.
Treasury Secretary Scott Bessent stated that the decision came in response to President Vladimir Putin’s continued refusal to end the violence, calling for “an immediate ceasefire.” The sanctions also cover nearly three dozen subsidiaries of the targeted companies.
The move aligns the United States with the United Kingdom and European Union, both of which have recently imposed or planned new sanctions targeting Russia’s energy sector. The EU’s sanctions envoy, David O’Sullivan, is expected to meet with U.S. Treasury officials on Thursday to coordinate further steps.
Ukrainian Ambassador to the U.S. Olga Stefanishyna welcomed the announcement, emphasizing that peace can only be achieved through sustained international pressure on Russia.
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