In a clear shift in tone, the U.S. has imposed heavy sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, targeting their access to U.S. financial systems and signalling increased pressure on Moscow over the ongoing war in Ukraine.
The move comes amid mounting frustration with Russian President Vladimir Putin’s reluctance to engage in peace negotiations, and follows the cancellation of a planned meeting between him and U.S. President Donald Trump. “Now is the time to stop the killing and for an immediate cease-fire,” said Treasury Secretary Scott Bessent.
Analysts say the sanctions mark a significant pivot in U.S. strategy: the energy sector has long been one of Russia’s most vulnerable spots. “This can’t just be one and done,” noted a former U.S. sanctions official.
At the same time, the European Union announced it will issue its 19th package of sanctions, including a ban on Russian LNG imports—showing alignment across the Atlantic.
In everyday terms: Washington’s message is clear — Russia’s ability to fund the war is under threat, and patience has run out. Whether the Kremlin responds by coming back to the negotiating table remains to be seen.
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