Ukraine and its European allies are hailing the Trump administration’s decision to sanction Russia’s two largest oil companies, Rosneft and Lukoil, as a major victory. The move signals a renewed commitment from Washington to pressure the Kremlin.
The announcement marks a significant shift for the Trump administration, which had previously oscillated between coercing Kyiv to accept peace terms and expressing frustration with Moscow. These are the first Russia-focused sanctions since Trump’s return to the White House.
Treasury Secretary Scott Bessent’s statement called for an “immediate ceasefire” and warned that the Treasury is “prepared to take further action if necessary” to end the war. The sanctions aim to cut off the oil revenues that “fund the Kremlin’s war machine.”
European Commission President Ursula von der Leyen praised the decision, calling it a “clear signal from both sides of the Atlantic” of “collective pressure.” The EU is also moving forward with its 19th sanctions package, which will target Russian LNG, its “shadow fleet” of tankers, and banks enabling sanctions evasion.
The tougher stance was reinforced by President Trump’s cancellation of a planned summit with Vladimir Putin. Trump said the meeting “didn’t feel right” amid the lack of progress, further isolating Moscow.