What do US sanctions on Russian oil mean, and who could be affected?
2 hours ago Share Save Gavin Butler Share Save
Reuters New sanctions announced by the US have blacklisted Russia's two largest oil producers
US President Donald Trump on Wednesday announced "tremendous" new sanctions against two of Russia's largest oil companies, in a bid to pressure Moscow into ending the war on Ukraine. The sanctions, announced via Trump's Truth Social platform, target Rosneft and Lukoil - two major oil corporations that help fund the Kremlin's "war machine", according to US Treasury Secretary Scott Bessent. Russian President Vladimir Putin's refusal to end the "senseless war" prompted the move, Bessent said in a statement. It comes a week after the UK imposed similar sanctions on Rosneft and Lukoil - and just one day after Trump said a planned meeting with Putin in Budapest would be shelved indefinitely. "Every time I speak to Vladimir, I have good conversations and then they don't go anywhere. They just don't go anywhere," Trump said on Wednesday, after a meeting with Nato Secretary-General Mark Rutte to discuss peace negot
Continue Reading on BBC News
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.