US Expands Sanctions on Rosneft, Lukoil

The Trump administration announced an expanded sanctions package after President Trump shelved planned talks with Vladimir Putin, aiming to pressure Moscow to agree to an immediate ceasefire and urging allied coordination. The Treasury designated Russia’s two largest oil companies, Rosneft and Lukoil, under Executive Order 14024 and sanctioned dozens of subsidiaries, including firms in which they hold majority stakes, to degrade Kremlin energy revenues. Officials said the measures are intended to push Moscow back to negotiations, while lawmakers moved to expand tools to use frozen Russian sovereign assets to aid Ukraine; media reports say the timing may be coordinated with an upcoming EU package targeting Russian energy and banks. Analysts warned the measures’ effectiveness will depend heavily on whether major buyers such as China and India curb Russian oil purchases, and U.S. engagement with NATO and allied leaders was highlighted; the announcement comes amid renewed fighting in Ukraine, including deadly Russian strikes.