The U.S. has introduced sanctions targeting Russia’s largest oil companies, Rosneft and Lukoil, to pressure Moscow into negotiating a peace deal in Ukraine. The move follows President Donald Trump’s decision to indefinitely postpone a planned meeting with Russian President Vladimir Putin in Budapest, citing unproductive discussions. “Every time I speak to Vladimir, I have good conversations, but they don’t go anywhere,” Trump said.
The sanctions mark a shift from Trump’s earlier stance of avoiding such measures until European nations halted Russian oil purchases. While the economic impact on Russia is expected to be minimal, the Kremlin claimed it is “immune” to the sanctions. Trump described the measures as “tremendous,” expressing hope they could be lifted if Russia agrees to end the war. U.S. Treasury Secretary Scott Bessent stated the sanctions target companies funding Russia’s “war machine.”
The decision comes amid growing U.S. frustration with Russia’s refusal to advance peace talks in the ongoing Ukraine conflict, now in its third year. Ukrainian President Volodymyr Zelensky welcomed the sanctions as a “good signal,” urging other nations to increase pressure for a ceasefire. However, Trump rejected Zelensky’s request for long-range Tomahawk missiles, citing their complexity.
The sanctions align with similar measures by the UK and EU, which recently banned Russian liquefied natural gas imports by 2028. NATO Secretary General Mark Rutte praised the U.S. move, noting it supports a European-Kyiv plan to freeze front lines, return deported children, exchange prisoners, and establish a war recovery fund for Ukraine. Russia, however, insists Ukrainian troops withdraw from parts of Donbas it controls, a demand Kyiv and Trump support but Moscow rejects.
Oil and gas, Russia’s biggest exports, see Rosneft and Lukoil account for 3.1 million barrels daily, with Rosneft producing nearly half of Russia’s oil. Major buyers like China, India, and Turkey face U.S. calls to halt purchases to further strain Russia’s economy. Meanwhile, Ukraine has targeted Russian oil infrastructure to weaken its economy, while recent Russian strikes on Kyiv killed at least seven, including children.
