With an urgent plea to “stop the killing,” US Treasury Secretary Scott Bessent announced new sanctions against Russia’s largest oil companies, Rosneft and Lukoil. The move by the Trump administration is designed to force an end to the war in Ukraine.
In a statement, Bessent said the sanctions were a direct result of “President Putin’s refusal to end this senseless war.” He affirmed the administration’s goal is to cut off the oil revenues that “fund the Kremlin’s war machine.”
Bessent added that the Treasury “is prepared to take further action if necessary” to support President Trump’s efforts to end the conflict. He also encouraged US allies to “join us in and adhere to these sanctions.”
This call to action was met positively in Europe. European Commission President Ursula von der Leyen praised the move, calling it a “clear signal” of “collective pressure” from “both sides of theAtlantic.”
The sanctions were announced in a week of escalating tensions, which also saw President Trump cancel a planned summit with Vladimir Putin, citing a lack of progress in negotiations.