The United States has rolled out sweeping new sanctions against Russia’s top oil producers, Rosneft and Lukoil, as part of efforts to push Moscow toward a ceasefire in Ukraine.
President Donald Trump announced the measures on Wednesday, saying talks with Russian President Vladimir Putin have repeatedly failed to produce results. “We have good discussions, but nothing changes,” Trump said after meeting with NATO Secretary-General Mark Rutte at the White House.
The decision came a day after Trump postponed a planned meeting with Putin in Budapest, citing a lack of progress in negotiations. The move followed a fresh wave of Russian airstrikes on Ukraine that killed at least seven people, including children.
US Treasury Secretary Scott Bessent said the sanctions were necessary to cut off funds that support Russia’s war effort. “Putin continues to fuel this senseless conflict,” Bessent said, calling for an immediate ceasefire.
Trump described the sanctions package as “tremendous,” saying he hoped they could be lifted if Russia agreed to halt hostilities. Rutte backed the move, calling it “the right step to increase pressure” on the Kremlin.
The restrictions target Russia’s energy sector — a major source of revenue for the government. Rosneft and Lukoil together export more than three million barrels of oil daily and account for a significant share of global output.
Similar sanctions were announced last week by the United Kingdom, which said Russian oil had no place in international markets. In response, Moscow warned that targeting its energy firms would disrupt global supply and hurt developing economies.
European leaders, including European Commission President Ursula von der Leyen, have also voiced support for the coordinated transatlantic approach. The EU on Wednesday approved its 19th sanctions package, which includes a ban on Russian liquefied natural gas imports.
The latest measures mark another blow to Russia’s energy sector, already hit by earlier sanctions on Gazprom Neft and Surgutneftegas.
Trump and Putin last met in Alaska in August in what was billed as a potential breakthrough in peace talks, but fighting has continued. The White House said future talks remain possible, but only if Russia agrees to freeze hostilities along current frontlines — a proposal the Kremlin has rejected.
Despite the setbacks, Trump said he remains committed to ending the war. “It’s time to stop the killing,” he said. “We’ve waited long enough.”
