US EditionTrump administration sanctions big Russian oil companies, presses for Ukraine ceasefire
- On Wednesday, the United States announced sanctions on Rosneft and Lukoil, targeting Russia's two largest oil companies as a major policy step.
- President Trump, frustrated by collapsed meeting plans with Vladimir Putin, pushed for penalties after delaying energy sanctions and canceling the Budapest summit following Russia's attacks on Ukraine.
- The Treasury detailed the restrictions, freezing all Rosneft and Lukoil assets in the US and barring US firms from business with them and almost three dozen subsidiaries.
- The US urged allies to join sanctions after Bessent said, `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`,
- Longer term, the sanctions' effect depends on implementation and potential secondary measures, with analysts saying this marks a pivotal shift by the Trump administration in the Russia-Ukraine war.
602 Articles
602 Articles
Oil Sanctions: A Global Power Play
Oil Sanctions: A Global Power Play In an escalating diplomatic conflict, the United States has targeted Russia's oil giants, Rosneft and Lukoil, with sanctions in a bid to pressure President Vladimir Putin to end the ongoing war in Ukraine. This move has triggered a 5% surge in global oil prices and caused Chinese and Indian refiners to pause Russian oil purchases.These sanctions mark a significant policy reversal for U.S. President Donald Trump…
U.S. sanctions Russia’s energy giants over war in Ukraine
The U.S. Treasury Department imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, aiming to pressure Moscow over the war in Ukraine, according to the Office of Foreign Assets Control (OFAC). On Wednesday, the Treasury said the designations target Russia’s energy sector and block property and interests of the listed entities in the United States or under U.S. jurisdiction. Treasury Secretary Scott Bessent said the action s…
The EU and Trump are increasing pressure on Russia with new sanctions, but why experts doubt that Putin's war machine will soon run out of money.
U.S. consumers may pay more at the pump after sanctions on Russian oil companies
Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine. U.S. benchmark crude jumped 5.8%, to $61.91 per barrel midday Thursday, and analysts say if the situation remains static, U.S. consumers will soon be paying more at the pump. Patrick De Haan, head of petroleum analysis for GasBuddy…
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