U.S. Sanctions Russia’s Rosneft, Lukoil Oil Firms
In a statement, the Treasury Department emphasized that these measures aim to cripple Russia’s energy sector, designed 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,” declared Treasury Secretary Scott Bessent.
He added, “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.”
This development follows closely after a White House official confirmed that a second scheduled summit between President Trump and President Putin had been postponed.
Earlier on Oct. 16, Trump had announced that the meeting would occur within two weeks. The sudden cancellation came amid the Kremlin’s refusal of an immediate ceasefire in Ukraine, a move sought by the US president.
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