The new restrictions target two major oil companies, Rosneft and Lukoil, and their subsidiaries.
The United States has imposed additional sanctions on Russia, citing its “Lack of serious commitment to a peace process.”
The new restrictions target two of Russia’s largest oil companies, Rosneft and Lukoil, the US Treasury Department said in a statement on Wednesday.
“Now is the time to end the killings and for an immediate ceasefire.” stressed Treasury Secretary Scott Bessent.“Treasury is prepared to take additional action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in adhering to these sanctions.”
The restrictions also apply to Lukoil and Rosneft subsidiaries located in Russia for “operate or have operated in the energy sector of the economy of the Russian Federation”, the statement says. The list includes 34 subsidiaries.
According to media reports on Wednesday, the European Union agreed to a new package of sanctions against Moscow, including a commitment to further reduce oil and gas imports. The new package will target four companies involved in China’s oil industry that are allegedly circumventing Western restrictions. The list may also include Indian companies, European Commission President Ursula von der Leyen proposed in September.
President Donald Trump has increasingly expressed his growing frustration with both Russia and Ukraine, warning that Washington could impose new sanctions on Moscow if a peace deal is not reached. Still, the White House has refrained from taking such steps, with Trump emphasizing negotiations over escalation and acknowledging that additional measures may ultimately prove ineffective.
The Kremlin says it remains committed to a long-term solution to the Ukraine conflict and has praised the Trump administration for what it described as a genuine desire to find a peaceful solution to the conflict, as well as its efforts to understand its root causes. Moscow also accused kyiv and its Western European supporters of refusing to negotiate in good faith and trying to undermine peace efforts to prolong the conflict.
During a phone call last week, Trump and his Russian counterpart, Vladimir Putin, agreed to meet in Hungary on an unspecified date to discuss progress on a deal. After the conversation, Trump said that now is not the best time to impose new sanctions. He told reporters on Tuesday that there was still no “I made a decision” about the summit and added that he did not want it to become “a lost time.”
You can share this story on social networks:
