Key Takeaways
- Major Sanctions Target Kremlin Revenue: The Trump administration sanctioned Rosneft and Lukoil — Russia’s two biggest oil producers — freezing assets and cutting off key revenue streams funding the war in Ukraine.
- Pressure for a Ceasefire: Treasury Secretary Scott Bessent and President Trump both urged an immediate ceasefire, saying the sanctions aim to force Putin to the negotiating table and stop the bloodshed.
- America Leads with Economic Power: Authorized under Executive Order 14024, the sanctions highlight the administration’s strategy of using financial strength and energy leverage — not endless war — to secure peace and protect U.S. interests.
The Trump administration is tightening the screws on Moscow’s energy empire. On Wednesday, the Treasury Department announced sweeping sanctions against Russia’s two largest oil producers, Rosneft and Lukoil, in a move aimed at cutting off the financial lifeline fueling the Kremlin’s war in Ukraine.
Treasury Secretary Scott Bessent said the sanctions target the oil giants that “fund the Kremlin’s war machine,” adding that the administration will “take further action if necessary to support President Trump’s effort to end yet another war.” The sanctions freeze assets tied to dozens of subsidiaries under both companies and restrict U.S. entities from engaging in transactions with them.
“Now is the time to stop the killing and for an immediate ceasefire,” Bessent said in a statement, urging global allies to adopt similar measures.
President Trump confirmed he canceled a meeting with Vladimir Putin, citing the need for stronger leverage. “It just didn’t feel right,” Trump said during an Oval Office press event with NATO Secretary General Mark Rutte. “They’re massive sanctions — among the biggest in the world — and hopefully it’ll push [Putin] to become reasonable.”
The sanctions are authorized under Executive Order 14024 and reflect the administration’s broader strategy to isolate Russia’s economy, particularly its lucrative energy exports.
“The United States will continue to advocate for a peaceful resolution to the war,” the Treasury said in its statement. “A permanent peace depends entirely on Russia’s willingness to negotiate in good faith.”
For now, the message is clear: America’s economic power remains one of its most effective tools for peace.