US Targets Russian Oil Giants with New Sanctions Amid Ukraine Conflict

The United States, under the leadership of President Donald Trump, has introduced significant sanctions targeting Russia's largest oil companies, Rosneft and Lukoil. This decisive action follows the cancellation of a planned summit with Russian President Vladimir Putin. US Treasury Secretary Scott Bessent cited Putin's lack of honesty in negotiations over the Ukraine conflict as a primary reason for these sanctions. The measures are intended to cripple Russia's ability to fund its military operations in Ukraine by cutting off vital oil revenue streams.

The sanctions represent one of the most substantial US actions against Russia's energy sector, marking a shift in the Trump administration's approach toward Moscow. The US is not acting alone; the European Union has also agreed to enhance its sanctions against Russia, with plans to further limit Russia's income from the sale of fossil fuels. This unified Western response aims to increase pressure on the Kremlin to end its involvement in Ukraine.

These developments underscore rising tensions between the US, EU, and Russia, as diplomatic efforts appear to stall, and economic measures take center stage in the international strategy to address the ongoing conflict.