The United States has announced new sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, in a renewed effort to pressure Moscow into peace talks over the war in Ukraine.
The move, announced by President Donald Trump after a meeting with NATO Secretary-General Mark Rutte, comes amid growing frustration over Russia’s continued attacks and stalled negotiations.
“Every time I speak to Vladimir, I have good conversations, and then they don’t go anywhere,” President Trump said, referring to Russian President Vladimir Putin.
Sanctions Aimed at Ending the War
The sanctions were announced a day after Trump indefinitely postponed a planned meeting with Putin in Budapest, following a deadly Russian airstrike in Ukraine that killed at least seven people, including children.
US Treasury Secretary Scott Bessent said the measures target key sources of funding for the Kremlin’s war efforts. “Putin’s refusal to end this senseless war leaves us with no choice. Now is the time for an immediate ceasefire,” he said.
Trump described the sanctions as “tremendous,” adding that they could be lifted if Russia agrees to halt its military actions. “We waited long enough. It’s time to stop the killing,” he said.
Rutte welcomed the move, saying it increased pressure on Putin to seek peace. “You have to put pressure, and that is just what he did today,” he told reporters at the White House.
Growing International Pressure
The sanctions mirror similar measures introduced by the United Kingdom last week, which also targeted Rosneft and Lukoil. UK Chancellor Rachel Reeves said there was “no place for Russian oil on global markets.”
Russia’s embassy in London condemned the sanctions, warning they would disrupt global fuel supplies and hurt developing economies. “Pressure only complicates peaceful dialogue and leads to further escalation,” it said.
The two oil giants export more than three million barrels of oil per day, with Rosneft alone responsible for nearly half of Russia’s production, about six percent of global output. Oil and gas remain Russia’s largest export earners, with China, India, and Turkey among its biggest buyers.
Trump has urged those countries to halt Russian oil purchases to intensify economic pressure on Moscow.
Peace Efforts and Sticking Points
The sanctions come as diplomatic efforts to end the conflict remain deadlocked. The United States, along with European NATO allies, has been working on a 12-point peace plan that includes freezing current frontlines, exchanging prisoners, and establishing a Ukraine recovery fund.
However, Moscow continues to reject any plan that requires it to stop fighting in occupied regions such as Donbas. Kremlin spokesman Dmitry Peskov reiterated that “Russia’s position has not changed.”
Trump said he had cancelled the planned Budapest summit with Putin to avoid “a wasted meeting,” accusing Moscow of refusing to compromise. “I said: cut and stop at the battle line. Go home. Stop fighting, stop killing people,” he told reporters earlier this week.
European leaders, including EU Commission President Ursula von der Leyen, welcomed the US decision, calling it a “clear transatlantic signal” of unity in maintaining pressure on Russia.
Meanwhile, reports of further Russian strikes in Ukraine underscored the urgency of renewed peace efforts. The White House said that while dialogue channels remain open, progress depends on “Russia’s willingness to end its aggression.”
