The Trump administration imposed new sanctions on Russia’s two largest oil companies on Wednesday, citing Russia’s “lack of serious commitment to a peace process aimed at ending the war in Ukraine.”
“Now is the time to stop the killings and establish an immediate ceasefire,” Treasury Secretary Scott Bessent said in announcing the sanctions against Rosneft and Lukoil.
Treasury stands ready to take additional action as necessary to support President Trump’s efforts to end another war,” Bessent said. “We encourage our allies to join us and adhere to these sanctions.”
The Treasury Department said the new sanctions would harm the Kremlin’s ability to generate revenue to finance its war against Ukraine.
A senior White House official told NBC News that the new sanctions were linked to the failure of a planned meeting between President Donald Trump and Russian leader Vladimir Putin in Budapest.
A general view shows the Lukoil company’s oil refinery in Volgograd, Russia, April 22, 2022.
Reuters photographer | Reuters
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