Bhubaneswar, India: US President Donald Trump has announced a fresh wave of “tremendous” sanctions targeting Russia’s two largest oil companies — Rosneft and Lukoil — in what officials described as one of the most aggressive economic measures yet to pressure President Vladimir Putin into ending the war in Ukraine.
The sanctions, unveiled by the US Treasury Department, are aimed at cutting off vital revenue streams that help finance Moscow’s military operations. “Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine,” US Treasury Secretary Scott Bessent said in a statement.
The move is expected to have a major impact on Russia’s economy, as oil and gas revenues account for nearly a quarter of the federal budget. Analysts warn the sanctions could disrupt global energy markets, particularly in Asia, where India and China have emerged as major buyers of discounted Russian crude since 2022.
The US action also comes amid mounting Western efforts to tighten enforcement of the oil price cap and restrict the use of “shadow fleets” that Moscow employs to circumvent trade restrictions.
Officials in Washington believe the sanctions will intensify financial pressure on the Kremlin, potentially forcing Moscow to scale back its war efforts, while also signaling renewed US commitment to defending Ukraine amid escalating conflict in Eastern Europe.
-OdishaAge
