WASHINGTON, Oct 23: US President Donald Trump announced new sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil, aiming to pressure Moscow to end the ongoing war in Ukraine.
The announcement came after months of stalled diplomacy and increasing frustration with Russian President Vladimir Putin’s actions.
“Today is a very big day. Look, these are tremendous sanctions. These are very big. Those are against their two big oil companies? We hope that the war will be settled. We just answered having to do with the various forms of missiles and everything else that we’re looking at. But we don’t think that’s going to be necessary,”Trump said during a White House interaction with journalists while hosting NATO Secretary General Mark Rutte.
The US Department of the Treasury also imposed sanctions that freeze the assets of Rosneft and Lukoil in the United States and bar American entities from financial dealings with them.
All subsidiaries owned 50 pc or more by these companies are also blocked. Trump criticized the ongoing conflict’s toll, noting, “We would like to see them just take the line that has been formed over quite a long period of time and go home. Last week they had almost 8,000 soldiers killed. Many Russians and Ukrainians were killed last week. We think it’s ridiculous and we’d like to have it end? I think they both want peace at this point. it’s almost four years? If I were president, it never would have started.”
When asked why sanctions were intensified now, Trump replied, “I just felt it was time. We’ve waited a long time.” NATO Secretary General Mark Rutte praised Trump’s efforts to “break the deadlock” with Russia and work toward peace.
“The next big thing is Ukraine-Russia. NATO wants to help deliver your vision of peace in Ukraine. Thank you for all you’re doing, including initiating dialogue with Putin.”
The sanctions aim to cut off critical funding to Russia’s war machine and weaken its economy.
US Treasury Secretary Scott Bessent emphasized, “Now is the time to stop the killing and call for an immediate ceasefire. Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies.”
Rosneft and Lukoil together export about 3.1 million barrels of oil per day, representing a significant source of revenue for Moscow.
The move follows similar sanctions imposed recently by the UK and is aligned with the European Union’s latest 19th sanctions package against Russia.
Trump has declined to provide Ukraine with Tomahawk missiles, citing the extensive training required, calling such assistance “too far out in the future.”
(UNI)
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