US Sanctions Rosneft, Lukoil; No Tomahawks

President Trump on Oct. 22 announced major sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, and many of their subsidiaries to degrade the Kremlin’s ability to raise revenue for its war in Ukraine. Treasury Secretary Scott Bessent said the measures mark a shift in policy toward direct sanctions, urged allies to join the steps, and warned the Treasury stands ready to take further action. The announcement came after a planned summit with Vladimir Putin was canceled and as allied leaders visited Washington, reflecting growing U.S. frustration with Moscow’s refusal to agree to a ceasefire. Oil markets jumped more than $2 a barrel after the move, and the sanctions follow renewed Russian missile and drone strikes that have caused civilian casualties and intensified Kyiv’s appeals for more foreign military aid. President Volodymyr Zelensky called Trump’s proposal to freeze front lines a 'good compromise' but doubted Putin would accept it, and Trump said he hoped the steps would push Putin to become reasonable while stopping short of providing long-range Tomahawk missiles to Kyiv for now.