US EditionUS, EU Pledge New Sanctions on Russia for Ukraine War
US Treasury targets Russia's largest oil firms Rosneft and Lukoil to cut Kremlin funding after Putin refused ceasefire, marking one of the largest sanction moves, officials said.
- On Wednesday, October 22, US Treasury Secretary Scott Bessent announced sanctions targeting Russia's two largest oil companies, Rosneft and Lukoil, saying, `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.`
- After a planned Budapest meeting was shelved, a senior White House official said the pause followed weeks of shifting positions after Donald Trump, President, sought a ceasefire last week.
- News of the moves drove oil prices, with WTI and Brent gaining more than 1%, and the European Union announced new sanctions including blacklisting oil tankers and travel curbs.
- The US government shutdown has reached day 22, the second longest in history, as Democrats press the president for action and the US military launched its eighth strike, killing two.
- Treasury warned it stood ready to act further, signalling potential escalation, Bessent said `President Putin has not come to the table in an honest and forthright manner, as we'd hoped`, and officials said ramped-up sanctions will be announced soon.
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42 Articles
US Sanctions 2 Major Russian Oil Companies Rosneft and Lukoil After Failed Vladimir Putin Talks; Calls on Moscow to Agree to Ceasefire With Ukraine
The US Department of the Treasury on Wednesday (local time) imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine. US Sanctions 2 Major Russian Oil Companies Rosneft and Lukoil After Failed Vladimir Putin Talks; Calls on Moscow to Agree to Ceasefire With Ukraine.
U.S. Sanctions Russia’s Top Oil Companies as Peace Talks Stall
The Trump administration will impose new sanctions on Russia in a bid to pressure Moscow to end the Ukraine war, Treasury Secretary Scott Bessent said Wednesday. “Now is the time to stop the killing and for an immediate cease-fire,” Bessent said on X. “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 acti…
US announces heavy Russia sanctions, says Putin wasn't 'honest'
Trump has held off on new sanctions for months, saying he hoped to persuade Russian President Vladimir Putin to make peace despite growing frustration with the Kremlin leader. Wednesday's announcement comes a day after a planned Trump-Putin summit in Budapest was scrapped.
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