The United States announced overnight sweeping sanctions against two of Russia's largest oil companies, Rosneft and Lukoil, in what is being described as the harshest measure taken since President Donald Trump took office.
According to the US Treasury Department, the move is intended to strike the heart of the Russian economy and pressure the Kremlin to return to the negotiating table, due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine."
"This is the most severe action taken since President Donald Trump assumed office," the Treasury said in a statement, explaining that the sanctions aim to "Increase pressure on Russia's energy sector and degrade the Kremlin's ability to raise revenue for its war machine and support its weakened economy."
"Now is the time to stop the killing and for an immediate ceasefire," said Secretary of the Treasury Scott Bessent. "Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. Treasury is prepared to take further action if necessary to support President Trump's effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions."
