Trump Imposes Fresh Ukraine-Related Sanctions on Russian Oil Giants

President Trump has imposed new sanctions on Russia, targeting major oil companies Lukoil and Rosneft amid the ongoing Ukraine conflict. The U.S. Treasury indicated further measures could follow, urging Russia to cease hostilities and encouraging allied nations to support the sanctions.

President Donald Trump has intensively escalated his administration's stance against Russia by imposing new sanctions on Wednesday. These sanctions specifically target prominent Russian oil companies Lukoil and Rosneft, marking the first major punitive actions in his second term over the ongoing Ukraine conflict.

The U.S. Treasury Department, responsible for issuing the sanctions, asserted its readiness to pursue additional actions. Officials urged Moscow to promptly agree to a ceasefire in the war that began in February 2022.

Treasury Secretary Scott Bessent emphasized the necessity for these measures, stating, "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." He also called on international allies to align with the U.S. in enforcing these sanctions.