US enforces new sanctions on Russia’s two largest oil firms
According to a statement from the US Treasury Department, the latest measures are aimed at weakening Russia’s ability to generate revenue for its military operations and to further constrain its already strained economy. The department emphasized that the restrictions specifically target the country’s energy sector to “degrade the Kremlin’s ability to raise revenue for its war machine” and “support its weakened economy.”
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent said in the announcement.
“Given (Russian) President (Vladimir) Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support (US) President (Donald) Trump’s effort to end yet another war,” he added.
The sanctions were introduced shortly after reports confirmed that a planned follow-up meeting between Presidents Trump and Putin had been postponed.
Trump had earlier stated on October 16 that the meeting would occur within two weeks, but the decision to cancel came soon after the Kremlin reportedly rejected Washington’s call for an immediate ceasefire in Ukraine.
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