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U.S. Sanctions Russia’s Leading Oil Companies
(MENAFN) The United States introduced fresh punitive measures on Wednesday against Russia’s two biggest oil producers, Rosneft and Lukoil, accusing Moscow of showing a “lack of serious commitment” to advancing a peace process that could bring an end to the ongoing conflict in Ukraine.
According to a statement from the Treasury Department, the new restrictions are aimed at Russia’s energy industry in order to “degrade the Kremlin’s ability to raise revenue for its war machine” and “support its weakened economy.”
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent declared in the release.
Bessent further emphasized, “Given (Russian) President (Vladimir) Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support (US) President (Donald) Trump’s effort to end yet another war.”
The declaration followed only a day after a White House official verified that a planned second meeting between Trump and Putin had been postponed.
Trump had stated on Oct. 16 that the discussion would occur within two weeks, but the reversal—whose reason was not immediately clear—took place shortly after the Kremlin dismissed the U.S. president’s request for an immediate ceasefire in Ukraine.
According to a statement from the Treasury Department, the new restrictions are aimed at Russia’s energy industry in order to “degrade the Kremlin’s ability to raise revenue for its war machine” and “support its weakened economy.”
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent declared in the release.
Bessent further emphasized, “Given (Russian) President (Vladimir) Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support (US) President (Donald) Trump’s effort to end yet another war.”
The declaration followed only a day after a White House official verified that a planned second meeting between Trump and Putin had been postponed.
Trump had stated on Oct. 16 that the discussion would occur within two weeks, but the reversal—whose reason was not immediately clear—took place shortly after the Kremlin dismissed the U.S. president’s request for an immediate ceasefire in Ukraine.
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