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Oil extends gains after settlement on new sanctions on Russian oil companies
The US blocked all entities majority-owned by Lukoil and Rosneft to pressure Russia over its war in Ukraine, while the EU banned Russian liquefied natural gas imports.
- On Wednesday, October 22, 2025, the US announced heavy sanctions targeting Russia's two largest oil companies, Lukoil and Rosneft, while President Donald Trump met NATO Secretary General Mark Rutte at the White House.
- Treasury officials said the measures respond to President Vladimir Putin's refusal to end the war, calling it a `senseless war`, while EU countries approved a ban on Russian LNG on Wednesday.
- Oil benchmarks climbed when Brent crude was up 3.42% as of 5pm ET Wednesday/1am GST Thursday.
- Treasury Department clarified that all entities owned 50 per cent or more by the two companies are blocked even if not designated by OFAC, and it is prepared to take further action to support President Trump's effort to end the war.
- The administration urged allied countries to join the sanctions, and Ukrainian President Volodymyr Zelenskyy supported freezing front lines before visits to Brussels and London.
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For a long time, the Republicans had urged: Trump now tightened the sanctions against Russia. At a meeting with NATO Secretary General Rutte, he confirmed that he had cancelled a planned meeting with Putin.
·Frankfurt, Germany
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Trump levies new sanctions on Russian oil giants in a push on Putin to end Ukraine war (World)
President Donald Trump's administration announced on Wednesday new 'massive sanctions' against Russia's oil industry that are aimed at moving Russian President Vladimir Putin to the negotiating table and bringing an end to Moscow's brutal war on Ukraine. The sanctions against oil giants Rosneft and ...
·Kelowna, Canada
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U.S. announces new sanctions against Russia’s two biggest oil companies - Boston News, Weather, Sports
WASHINGTON (AP) — Treasury Secretary Scott Bessent announced new sanctions Wednesday against Russia’s two biggest oil companies and blasted Moscow’s refusal to end its “senseless
·Boston, United States
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Total News Sources46
Leaning Left3Leaning Right6Center6Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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