Trump Administration Slaps New Sanctions on Russian Oil: ‘Time to Stop the Killing’
The Trump Administration has imposed additional sanctions on Russia on Wednesday that target the country’s two largest oil companies, in an effort to get Russia dictator Vladimir Putin to immediately agree to a ceasefire in his ongoing war with Ukraine.
Treasury Secretary Scott Bessent, in a statement on the sanctions, said it is “time to stop the killing.”
He continued:
“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 to support President [Donald] Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions.”
The two companies hit by the restrictions are Rosneft and Lukoil OAO. The sanctions, announced by the Treasury Department’s Office of Foreign Assets Control, also apply to a number of Rosneft and Lukoil subsidiaries.
NBC News reported a senior White House official said the new sanctions are in response to a planned meeting between Trump and Putin in Budapest being canceled.
Fox News reporter Jacqui Heinrich shared the full announcement on the sanctions on X, which you can click and read below:
The latest sanctions add to the already existing restrictions placed on Russia’s oil and energy sector, as well as its technology companies and Russian banks.
Bessent’s announcement was made around the same time President Trump ripped the Wall Street Journal for a Wednesday report the U.S. had lifted “a key restriction on Ukraine, allowing it to use long-range missiles against Russia.
President Trump denied the report soon after, saying it was “FAKE NEWS!”
Trump, according to the Financial Times, got into a”shouting match” with Volodymyr Zelensky about the war on Oct. 17, during the Ukrainian president’s visit to the White House.
The report said Trump pressured Zelensky to accept Putin’s terms for ending the war, because Russia will “destroy” Ukraine.
