US Sanctions Russia’s Top Oil Firms to Force Ceasefire
The United States has imposed sanctions on Russia’s two largest oil companies, escalating pressure on Moscow to agree to an immediate ceasefire in Ukraine. The move follows President Donald Trump’s acknowledgment that his diplomatic talks with Vladimir Putin have failed to produce results.
Key Takeaways
- US sanctions target Russia’s two largest oil companies
- Move aims to pressure Kremlin into immediate ceasefire
- Trump admits talks with Putin have been unproductive
- Treasury prepared for further action if needed
Treasury Secretary’s Statement
“Now is the time to stop the killing and for an immediate ceasefire. 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,” US treasury secretary Scott Bessent said in a post on X.
Trump’s Reaction
President Trump expressed hope that the sanctions would be temporary, acknowledging his frustration with the stalled peace process.
“These are tremendous sanctions… And we hope that they won’t be on for long. We hope that the war will be settled,” AFP quoted Trump saying.
Trump added that while he has “good conversations” with Putin, they consistently fail to produce meaningful progress: “Every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere.”
Strategic Impact
The sanctions specifically target the Kremlin’s revenue streams for military funding and economic support. The Treasury Department emphasized that Russia’s lack of commitment to peace negotiations prompted the action.
“Treasury is imposing further sanctions as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine. Today’s actions increase pressure on Russia’s energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy. The United States will continue to advocate for a peaceful resolution to the war, and a permanent peace depends entirely on Russia’s willingness to negotiate in good faith,” the US treasury department said.
The US is now urging allied nations to join the sanctions regime, signaling potential if diplomatic efforts continue to stall.
