US Sanctions Rosneft, Lukoil and Subsidiaries

President Donald Trump announced a major sanctions package targeting Russia’s two largest oil companies, Rosneft and Lukoil, and dozens of their subsidiaries to pressure Moscow to agree to an immediate ceasefire in Ukraine. Treasury Secretary Scott Bessent said the move was a response to Vladimir Putin’s “refusal to end this senseless war,” warned that foreign financial institutions facilitating significant transactions with Russia’s military‑industrial base could face penalties, and said officials stand ready to take further action if necessary. The announcement was made as Trump met NATO Secretary‑General Mark Rutte and followed his cancellation of a planned meeting with Putin in Budapest amid stalled negotiations. The measures aim to choke Russia’s oil revenue by barring business and access to the international financial system and by urging allies to follow suit; U.S. officials noted similar recent UK steps against the Russian energy sector. Treasury officials said they hope the measures can be lifted quickly if Moscow agrees to a ceasefire; the announcement comes amid intensified Russian strikes that have killed civilians, including children.