US Imposes Sanctions On Russian Oil Giants Rosneft, Lukoil To Halt 'Kremlin’s War Machine'

US Sanctions On Russian Oil Firms: The United States has imposed sanctions on two major Russian oil companies, citing their “lack of serious commitment to peace in Ukraine,” as President Donald Trump noted that conversations with Russian President Vladimir Putin were “good” but did “not go anywhere.”

In an attempt to end the ongoing Russia-Ukraine conflict, United States has imposed sanctions on two Russian oil giants to increase pressure on Kremlin's energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy".

The US Department of the Treasury's sanction impact Russian oil companies Open Joint Stock Company Rosneft Oil Company (Rosneft) and Lukoil OAO (Lukoil), which are now designated.

“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, "he said.

The sanctions have comes after Russia recently held a major training exercise involving nuclear arms. 

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The Impact Of US Sanctions On Russian Oil Biz

According to the Treasury, "All property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC."

"Any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked," it said.

Notably, the "violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons". 

Meanwhile, engaging in “certain transactions involving the persons designated today may risk the imposition of secondary sanctions on participating foreign financial institutions".

Trump Claims Talks With Putin “Don't Go Anywhere"

Taking to Truth Social, the US President Donald Trump announced the latest sanctions on Kremlin, describing it as “time” for such measures, to stop the Russia-Ukraine war.

Addressing journalists outside the White House about the sanctions on Russia, Trump said, “Every time I speak with Vladimir, I have good conversations, and then they don't go anywhere.”