US Imposes Sanctions on Russian Oil Giants Rosneft and Lukoil Amid Push for Ukraine Ceasefire:

The United States has announced sweeping sanctions on Russia’s two biggest oil companies — Rosneft and Lukoil — as Washington ramps up pressure on Moscow to end its war in Ukraine. The decision, unveiled by President Donald Trump on Wednesday, marks his administration’s strongest move yet against Russia since the conflict began. The sanctions come as Trump grows increasingly frustrated with what he called Russia’s “lack of serious commitment” to peace talks. The U.S. Treasury Department said the new measures were designed to choke off the Kremlin’s key source of war funding — oil exports — which continue to fuel the conflict now entering its fourth year. Trump’s First Sanctions on Russia Over Ukraine War This is the first time President Trump has imposed sanctions on Russia in connection with the war in Ukraine during his second term. Posting on Truth Social, Trump shared the Treasury’s official statement titled “Treasury sanctions major Russian oil companies, calls on Moscow to immediately agree to ceasefire.” Treasury Secretary Scott Bessent said in a statement, “Given President Putin’s refusal to end this senseless war, the Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. We are prepared to take further action if necessary to support President Trump’s efforts to bring peace. We urge our allies to join us and uphold these sanctions.” Under the sanctions, all U.S. property and assets belonging to Rosneft and Lukoil will be frozen, and American citizens or companies are prohibited from doing business with them. Rosneft and Lukoil: The Targets of Sanctions Rosneft and Lukoil are Russia’s leading oil producers, together accounting for nearly half of the country’s crude exports. Both companies are vital to Russia’s economy and the funding of its military operations. According to the U.S. Treasury, Rosneft is a vertically integrated energy giant engaged in exploration, production, refining, and transport of petroleum, while Lukoil operates globally in oil and gas extraction, refining, and distribution. The move comes just days after the European Union approved its 19th package of sanctions against Moscow, including a ban on Russian natural gas imports. The coordinated pressure from Western nations is aimed at cutting off Russia’s key financial lifelines and forcing it back to the negotiation table. Trump’s Remarks on India’s Russian Oil Purchases The sanctions were announced amid repeated claims by President Trump that Indian Prime Minister Narendra Modi assured him that India would “not buy much oil” from Russia. Speaking at a Diwali celebration at the White House on Tuesday, Trump said, “I spoke to Prime Minister Modi… we have a very good relationship, and he’s not going to buy much oil from Russia. He wants to see that war end as much as I do.” He further added, “They’ve already cut it way back, and they’re continuing to cut it further.” Indian officials have not confirmed Trump’s claims. Last week, India’s Ministry of External Affairs spokesperson Randhir Jaiswal told reporters he was “not aware” of any such conversation between the two leaders. Trump later responded by warning that if India continued purchasing Russian oil, it would face “massive tariffs.” Currently, India faces 50 percent U.S. tariffs, half of which were imposed due to its Russian oil trade. Trump-Putin Meeting Called Off The announcement also comes just days after reports suggested that Trump and Russian President Vladimir Putin might meet in Budapest. However, on Tuesday, the White House confirmed that the meeting had been canceled. Addressing the press alongside NATO Secretary General Mark Rutte, Trump said, “We cancelled the meeting with President Putin. It just didn’t feel right to me.” Despite the tough sanctions, U.S. Secretary of State Marco Rubio indicated that Washington remains open to diplomatic engagement, saying the administration “would still like to meet with Russia” to discuss a peaceful resolution.

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