President Donald Trump announced sweeping new sanctions Wednesday on Russia’s oil giants Rosneft and Lukoil, aiming to pressure President Vladimir Putin to end the war in Ukraine.
Treasury Secretary Scott Bessent said the sanctions target “the Kremlin’s war machine,” and urged allies to join the effort.
Now is the time to stop the killing and for an immediate ceasefire. Given President 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… https://t.co/tbJTyf8x2V
— Treasury Secretary Scott Bessent (@SecScottBessent) October 22, 2025
The measures follow intensified Russian strikes across Ukraine that killed at least six people, including children, and wounded dozens.
While meeting NATO Secretary General Mark Rutte at the White House, Trump said the goal was to make both sides “reasonable,” adding that he remains open to talks with Putin. Rutte praised U.S.-supplied air defenses for protecting Ukrainian cities.
The new U.S. sanctions against Russia’s oil giants are a clear signal that prolonging the war and spreading terror come at a cost. And this is a fair and absolutely deserved step. It is precisely pressure on Russia that will be effective for achieving peace, and sanctions are one…
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) October 23, 2025
Meanwhile, Ukraine claimed strikes on Russian weapons plants and refineries, as peace efforts stalled.
Trump said the conflict will also feature in his upcoming meeting with Chinese President Xi Jinping, signaling his plan to leverage trade and oil sanctions to isolate Moscow.
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TIPP Staff
TIPP Staff
TIPP Staff
