The US has announced new sanctions against Russia’s two largest oil companies, signalling a major shift in US president Donald Trump’s approach to ending the war in Ukraine. The measures taken against Rosneft and Lukoil mark the first time the US has sanctioned Russia since Trump’s return to office in January.
The US treasury secretary, Scott Bessent, said the sanctions were needed because of “Putin’s refusal to end this senseless war” and that the companies targeted were responsible for funding the Kremlin’s “war machine”. He said that the US was also prepared to take further action.
Trump has called the sanctions “tremendous”, but experts remain split on how effective they will be in slowing Russia’s war and bringing Vladimir Putin to the negotiating table – with many saying it will come down to how aggressively the US enforces them.
What has been announced?
The sanctions announced by the Treasury will see all assets belonging to Rosneft and Lukoil in
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