The United States imposed fresh sanctions Wednesday on Russia’s energy giants Rosneft and Lukoil, accusing Moscow of showing no real intent to end the war in Ukraine. The Treasury Department said the measures aim to cripple Russia’s ability to finance its military campaign and sustain its battered economy. The sanctions are designed to “degrade the Kremlin’s ability to raise revenue for its war machine,” the statement said.
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent declared, urging Moscow to halt its offensive.
Bessent said President Vladimir Putin’s refusal to seek peace had forced Washington’s hand. “Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine,” he added, warning that more steps could follow to bolster President Donald Trump’s efforts to end the conflict.
The announcement came a day after the White House confirmed that a planned second meeting between Trump and Putin had been postponed. Trump had said on Oct. 16 that the meeting would take place within two weeks, but the reversal followed Russia’s rejection of the ceasefire proposal advanced by the US president.
The sanctions mark another escalation in Washington’s pressure campaign, as the war in Ukraine drags into another bloody season with no sign of resolution. While the Kremlin has dismissed previous US measures as ineffective, the targeting of its two largest oil producers signals Washington’s intent to strike at the heart of Russia’s economy.
Analysts say the move underscores a growing sense of urgency in Washington to force Moscow back to the negotiating table — or risk deepening isolation on the global stage.