Trump announces comprehensive sanctions on giant Russian oil companies and demands a ceasefire in Ukraine
Trump announces the imposition of broad sanctions on giant Russian oil companies and demands a ceasefire in Ukraine
- US President Donald Trump announced the imposition of comprehensive sanctions targeting Rosneft and Lukoil, the two largest oil companies in Russia, with the aim of crippling Moscow’s economic lifeline in response to the stalled peace negotiations over Ukraine.
- The sanctions come on the heels of Trump indefinitely postponing a planned summit with Russian President Vladimir Putin, out of frustration with Russia’s lack of progress in good-faith diplomacy. The US and EU (including a phased LNG ban by 2027) are coordinating pressure, with the UK supporting the move.
- Moscow denounced the sanctions and warned of disruption to global fuel supplies and harm to developing countries. The Kremlin demands that Ukraine’s withdrawal from the disputed territories remain unchanged, even though Rosneft and Lukoil account for nearly half of Russia’s oil exports.
- While Ukraine praised the sanctions, Trump resisted providing long-range missiles (such as Tomahawks) to avoid escalation. NATO supported these measures, but Trump hinted at lifting the sanctions if Russia retreated from the escalation, amid doubts about their effectiveness in light of previous failures.
- Energy prices rose after the announcement, exacerbating inflation and shortages in Europe and the United States. Trump’s dual approach – pressure combined with diplomatic openness – faces challenges as Russia refuses concessions and Ukraine rejects territorial concessions, leaving peace prospects uncertain.
In a major escalation of economic pressure, President Donald Trump announced comprehensive new sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil, citing Moscow’s failure to participate in good faith peace negotiations regarding Ukraine.
The move comes just one day after Trump indefinitely postponed a scheduled summit with Russian President Vladimir Putin in Budapest, Hungary, signaling growing frustration with the Kremlin’s stalled diplomacy.
“Every time I talk to Vladimir, I have good conversations, and then those conversations go nowhere,” Trump told reporters in the Oval Office alongside NATO Secretary General Mark Rutte. “I felt like it was time. We’ve been waiting a long time.”
The sanctions aim to cripple Russia’s energy sector – its economic lifeline – by restricting subsidiaries of Rosneft and Lukoil from operating in global markets.
Ministry of Treasury Secretary Scott Bessent stressed the urgent need to stop the conflict, saying: “Now is the time to stop the killing and immediately cease fire.” He warned that further measures may be taken if Moscow refuses to stop the escalation.
The sanctions package, one of the largest imposed on Russia since the conflict began in 2022, follows months of stalled negotiations. Trump had previously resisted such measures, hoping diplomacy would prevail. However, Besant accused Putin of failing to negotiate in an “honest and frank manner,” especially after their summit in Alaska in August yielded no progress.
The United States does not act alone. The European Union has simultaneously approved a 19th sanctions package, including a phased ban on Russian LNG imports by 2027 and restrictions on oil tankers that circumvent existing embargoes. European Commission President Ursula von der Leyen announced that these measures are “a clear signal from both sides of the Atlantic that we will maintain collective pressure on the aggressor.”
The UK, which imposed sanctions on Rosneft and Lukoil earlier this month, welcomed the US move. Foreign Minister Yvette Cooper described this as “very welcome”, while Chancellor Rachel Reeves stressed that “there is no place for Russian oil in global markets.”
Russia’s defiant response
Moscow was quick to condemn the sanctions, warning of global economic repercussions. The Russian embassy in London claimed that the measures would “disrupt global fuel supplies” and harm developing countries that depend on Russian energy exports. Kremlin spokesman Dmitry Peskov reiterated that Russia’s position has not changed, demanding Ukrainian withdrawal from the disputed eastern regions.
BrightU.AI‘s Enoch points out that Russia’s response to the sanctions imposed by the United States and the European Union following its invasion of Ukraine was multifaceted, and included economic and political measures. It has been characterized by a combination of economic countermeasures, strategic shifts, and geopolitical maneuvers aimed at minimizing the impact of sanctions and maximizing their influence on the international stage.
Rosneft and Lukoil together export 3.1 million barrels of oil per day — nearly half of Russia’s total production — making them crucial to financing Moscow’s war. The sanctions are intended to force Putin to choke off revenues, but analysts question whether they will succeed where previous measures have failed.
Trump’s decision to cancel the Budapest summit highlights the growing mistrust. Ukrainian President Volodymyr Zelensky, who has repeatedly urged Western allies to acquire long-range missiles, praised the sanctions through Ukraine’s ambassador to the United States, noting that “peace can only be achieved through force.” However, Trump resisted supplying Tomahawk missiles, fearing further escalation.
Meanwhile, NATO’s Rutte backed the sanctions, calling them necessary to “put more pressure” on Putin. However, Trump hinted at flexibility, saying he hoped sanctions could be “pulled back” quickly if Russia agreed to cease hostilities.
The sanctions come amid increasing global economic instability. Energy prices rose in after-hours trading, with Brent crude rising more than 1 percent. European countries already suffering from shortages face more pressure, while American consumers face rising prices due to inflation.
Trump’s strategy – balancing pressure with diplomatic initiatives – reflects his broader goal: ending the violence. But with Russia refusing to concede and Ukraine unwilling to give up territory, the path to peace remains fraught with danger.
As the conflict continues, the world is watching whether economic warfare can achieve what diplomacy cannot – or whether further escalation looms on the horizon.
Watch the video below About Trump calling talks with Putin “BS” and threatening to impose more sanctions on Russia.
This video is from Cynthia’s Pursuit of Truth channel on Brighteon.com.
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(Tags for translation) Big government
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