- U.S. President Donald Trump has imposed sweeping sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, aimed at pressuring Moscow to end its war in Ukraine.
- The sanctions freeze all U.S.-based assets of the two companies and ban American firms from doing business with them.
- Russia dismissed the measures as “unproductive,” while former Russian President Dmitry Medvedev called them “an act of war.”
- The announcement sent global oil prices up more than 3% and India signaled it may curb Russian imports to comply.
- The European Union also unveiled its 19th sanctions package against Moscow, expanding restrictions on Russian energy and blacklisting over 100 oil tankers.
- Trump confirmed a planned summit with Russian President Vladimir Putin in Budapest was canceled, citing frustration that past talks had “gone nowhere.”
US Sanctions Major Russian Oil Companies
