Bloomberg: Trump may sanction two Russian oil giants if meeting with Putin fails

The United States is considering imposing sanctions on the Russian oil giants Rosneft and Lukoil as part of a package of measures aimed at forcing Kremlin leader Vladimir Putin to agree to a ceasefire with Ukraine.

Source: Bloomberg, citing informed sources, as reported by European Pravda

Details: The sources noted that the potential sanctions against the two Russian oil companies are intended to reduce the Kremlin’s energy revenues if no progress is made at Friday’s meeting between US President Donald Trump and Putin in Alaska.

Given concerns about the impact on prices, officials say Trump hopes that the move, if made, would be short-term.

Other options include additional restrictions on Russia’s shadow fleet and additional tariffs on buyers of Russian oil, including China. The sources cautioned that any measures may be implemented gradually.

For reference: Rosneft and Lukoil are the two largest Russian oil producers, accounting for nearly half of the country’s total crude oil exports, or about 2.2 million barrels per day in the first half of 2025.

Background:

• Ahead of his meeting with the Kremlin leader, Trump reiterated that Putin will face severe economic consequences if he has no interest in ending the war in Ukraine.
• US Treasury Secretary Scott Bessent said Trump will make it clear to Putin that all options remain on the table regarding the possible easing or tightening of sanctions against Moscow.

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