Trump Imposes Harsh New Sanctions on Russian Oil Giants Rosneft and Lukoil to Push for Ukraine Peace Talks
The United States has unveiled a sweeping new round of sanctions targeting Russia’s two largest oil producers — Rosneft and Lukoil — in a fresh attempt to pressure Moscow into ending the war in Ukraine.
President Donald Trump announced the measures on Wednesday, describing them as a “tremendous” step toward forcing Russian President Vladimir Putin to the negotiating table.
Speaking at the White House alongside NATO Secretary-General Mark Rutte, Trump said he had repeatedly tried to reach a breakthrough with Putin — but without success.
“Every time I speak to Vladimir, we have good conversations, but they don’t go anywhere,” Trump told reporters. “They just don’t go anywhere.”
The sanctions announcement came just a day after Trump confirmed that a planned meeting with Putin in Budapest had been postponed indefinitely.
US Cracks Down on Russia’s Oil Revenues
The new sanctions, announced by US Treasury Secretary Scott Bessent, directly target Rosneft and Lukoil — two of Russia’s most critical energy companies that together account for millions of barrels of oil exports each day.
Bessent said the decision was made in response to Putin’s refusal to end the conflict, calling Russia’s ongoing aggression in Ukraine “a senseless war.”
“Now is the time to stop the killing and for an immediate ceasefire,” Bessent said in an official statement. “These oil giants are the financial engine behind the Kremlin’s war machine.”
The Treasury Department says the sanctions will restrict financial transactions, limit trade in energy products, and block the companies’ access to US markets and technology.
Trump told reporters that while the sanctions were “tremendous” in scale, they were designed to be temporary — and could be lifted if Moscow takes meaningful steps toward peace.
“We waited long enough,” Trump said. “If they stop the war, these sanctions can go away very quickly.”
Rutte and Allies Support US Action
NATO Secretary-General Mark Rutte praised the move, saying it sends a clear message to Moscow that the international community will not tolerate continued aggression.
“You have to put pressure — and that’s exactly what President Trump did today,” Rutte said.
The announcement comes as peace negotiations between the US, Russia, and Ukraine remain deadlocked. Trump has blamed Moscow for refusing to cease fighting along current front lines, one of the main conditions for any ceasefire proposal.
US Secretary of State Marco Rubio reiterated Washington’s willingness to engage diplomatically, saying, “We are ready to meet Russia, but they must show genuine intent for peace.”
Allied Sanctions Strengthen the Pressure
The new US sanctions align with similar measures announced by the United Kingdom last week, which also targeted Rosneft and Lukoil.
UK Chancellor Rachel Reeves said the British government “stands firmly with Ukraine” and emphasized that “there is no place for Russian oil on global markets.”
In response, Russia’s embassy in London accused Western countries of escalating the crisis, warning that restrictions on its major energy exporters would disrupt global fuel supplies and increase prices worldwide.
“These sanctions will have a detrimental impact on energy security, especially in developing countries,” the embassy said. “Pressure only complicates peaceful dialogue and leads to further escalation.”
According to UK government data, Rosneft and Lukoil together export over 3.1 million barrels of oil per day. Rosneft alone produces nearly half of Russia’s total crude output — roughly 6% of the world’s oil supply.
Because oil and gas remain Moscow’s biggest export revenue sources, the sanctions could have far-reaching effects on Russia’s economy and global energy markets.
Trump has also urged India, China, and Turkey — three of Russia’s largest energy customers — to scale back or halt their oil purchases to further isolate the Kremlin.
Global Support Builds for the US Position
The United States’ tough new measures have received support from European allies. UK Foreign Secretary Yvette Cooper called the sanctions “strongly welcome,” saying they reinforce transatlantic unity in standing against Russian aggression.
European Commission President Ursula von der Leyen also praised Washington’s move, revealing that she spoke by phone with Secretary Bessent about Russia’s lack of commitment to peace.
“With the imminent adoption of the EU’s 19th sanctions package, this is a clear signal from both sides of the Atlantic that we will keep up collective pressure on the aggressor,” von der Leyen wrote on X (formerly Twitter).
The European Union’s new package reportedly includes a ban on Russian liquefied natural gas (LNG) imports, expanding its existing sanctions framework.
Earlier this year, both the US and UK imposed similar restrictions on Gazprom Neft and Surgutneftegas, two other major Russian energy producers, in an attempt to cut off Moscow’s wartime funding.
A Push for a New Peace Framework
During his White House meeting, Rutte presented Trump with a 12-point peace plan developed by NATO allies and Ukrainian officials.
The proposal calls for:
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A freeze along current front lines to halt fighting immediately.
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A return of deported Ukrainian children from Russian territory.
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A large-scale prisoner exchange between the two sides.
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A reconstruction and recovery fund for Ukraine.
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A clear roadmap for Ukraine’s eventual EU membership.
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Increased military and economic support from Western allies.
The framework mirrors Trump’s earlier public statements urging both sides to “cut and stop at the battle line” to prevent further loss of life.
“Let it be cut the way it is,” Trump said earlier this week. “Stop fighting, stop killing people, and go home.”
Putin Rejects Frontline Freeze Proposal
However, the Kremlin swiftly rejected the idea. Spokesperson Dmitry Peskov said Russia’s position “has not changed,” insisting that Ukrainian troops must withdraw from the Donbas region before any lasting ceasefire can be achieved.
Russia has repeatedly stated that it considers the eastern territories part of its own sovereign land — a claim Ukraine and the West categorically reject.
The disagreement underscores the deep mistrust and divergent objectives that continue to block meaningful peace negotiations.
Trump Cancels Meeting with Putin After Renewed Attacks
Tensions further escalated after Russia launched a major bombardment on Ukraine, killing at least seven civilians — including children — just hours before Trump’s announcement.
The renewed assault effectively ended plans for a Trump-Putin meeting in Budapest, which the White House confirmed had been “shelved indefinitely.”
A preparatory meeting between US Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov was also canceled. According to the White House, the session was “no longer necessary” after what it called a “productive call” between the two diplomats.
Trump Denies Reports on Long-Range Missile Approval
In the wake of the sanctions announcement, Trump dismissed a Wall Street Journal report claiming that the US had authorized Ukraine to launch long-range missile strikes inside Russia.
“That’s fake news,” Trump said, rejecting the claim outright.
Ukrainian President Volodymyr Zelensky has repeatedly requested long-range Tomahawk missiles from Washington, arguing that the threat of advanced US weaponry could pressure Russia to negotiate.
Conclusion: A Diplomatic Gamble Amid Rising Tensions
The new sanctions mark one of the toughest US actions yet against Russia’s energy sector and signal growing frustration in Washington over Moscow’s unwillingness to end the war.
While the measures have been applauded by NATO allies and European partners, their success will depend on whether they force Putin to the negotiating table — or further entrench Russia’s defiance.
For now, President Trump appears determined to keep up the pressure.
“It’s time to stop the killing,” Trump said. “Russia knows what it needs to do — end this war and come to the table.”