Rosneft and Lukoil Hit by US Sanctions Over ‘Senseless War’

The US government has sanctioned Rosneft and Lukoil, Russia’s two dominant oil companies, in response to what the Treasury Secretary called Vladimir Putin’s “refusal to end this senseless war” in Ukraine.
The sanctions, the first of the new Trump administration, are intended to cut off the “key revenues” that Russia uses to finance its military. “Now is the time to stop the killing and for an immediate ceasefire,” said Treasury Secretary Scott Bessent in a statement.
This move marks a victory for Ukraine and European allies, who had been concerned by the Trump administration’s earlier signals of pressuring Kyiv to cede territory. European Commission President Ursula von der Leyen praised the move as a “clear signal” of “collective pressure.”
The US action aligns with the UK, which sanctioned both firms last week. It puts additional pressure on the EU, which has sanctioned state-owned Rosneft but not the private Lukoil, due to energy dependencies in Hungary and Slovakia.
The hardening stance was also evident in diplomacy, as President Trump cancelled a planned meeting with Putin. Trump said the summit “didn’t feel right” because negotiations were not advancing.