The Trump administration sanctioned Russia’s two biggest oil companies Wednesday, taking such a move against Moscow for the first time in a marked shift in its approach to ending the war between Russia and Ukraine.
The U.S. blacklisted Rosneft and Lukoil and issued other sanctions because Russia has failed to commit seriously to the peace process, Treasury Secretary Scott Bessent said in a statement. He urged Russia to “stop the killing” and called for an immediate ceasefire.
“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,” he said. “Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war.”
The move comes less than a week after President Donald Trump announced that he’d be meeting with Russian President Vladimir Putin in Budapest, Hungary, and declared that the Russian leader was ready for peace.
