US imposes sanctions on Russian oil companies

The United States has imposed sanctions on Rosneft and Lukoil, Russia's largest oil companies, and their subsidiaries.

Source: US Department of the Treasury

Details: The department stated that these measures will increase pressure on Russia's energy sector and limit the Kremlin's ability to fund its war machine and sustain its weakened economy.

Treasury Secretary Scott Bessent called on allies to join these sanctions.

Quote: "Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. Treasury is prepared to take further action if necessary to support President Trump's effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions." [N.B. Ukrainska Pravda does not recognise Putin as president – ed.]

Details: The US announced its readiness to introduce further measures and urged Moscow to immediately return to the negotiating table.

The restrictions target Russia's two largest oil companies – Rosneft Oil Company PJSC and Lukoil OAO.

Rosneft is a vertically integrated energy company engaged in the exploration, extraction, refining, transport and sale of oil, natural gas and petroleum products. Lukoil conducts similar operations both in Russia and abroad.

Both companies were sanctioned under US Executive Order No. 14024 for their activities in the Russian Federation's energy sector.

In addition, restrictions are being imposed on several Rosneft and Lukoil subsidiaries. All entities in which these corporations directly or indirectly own more than 50% of the capital are automatically subject to asset blocking, even if they are not listed separately in the sanctions register.

Support Ukrainska Pravda on Patreon!