The United States announced this Wednesday (22) sanctions against Russia’s two largest oil producing companies. The measure aims to pressure Russian President Vladimir Putin to accept an immediate ceasefire in Ukraine. In a statement, the US Treasury Department points to the action as a response to Moscow’s lack of “serious commitment” to the peace process in the conflict.
“Now is the time to stop the killing,” said US Treasury Secretary Scott Bessent. According to him, the country can take new measures to support President Donald Trump’s efforts to “resolve yet another war”.
White House sanctions aim to harm Russia’s ability to generate resources to fuel war; The decision affects the state oil giant Rosneft PJSC, led by Igor Sechin, a close ally of Putin, and the private company Lukoil. Together, the companies account for almost half of the country’s crude oil exports, approximately 2.2 million barrels per day in the first half of this year.
The oil and natural gas industry accounts for about a quarter of the Russian federal budget. The United Kingdom also sanctioned the two companies last week and the European Union is expected to announce a new package of sanctions this Thursday (23), including a ban on the import of natural gas.
The move represents a change in stance by Trump, who the previous week announced plans to meet with Putin and said he believed Russia wanted to end the conflict. This Tuesday (22), the American president indicated that a face-to-face meeting would not be productive at this time due to the lack of “clear objectives”.
Moscow on Wednesday (22) intensified attacks in Ukraine, launching drones and missiles that resulted in the deaths of at least seven civilians in the early hours of the day. Russia continues to focus its offensive on energy infrastructure, while Kiev tries to retaliate by targeting Russian refineries.
