WASHINGTON—The Trump administration is planning substantial new sanctions on Russia, Treasury Secretary Scott Bessent said Wednesday.
“We are going to either announce after the close this afternoon or first thing tomorrow morning a substantial pickup in Russia sanctions,” Bessent told reporters.
Negotiations over ending the war in Ukraine have stalled, with President Trump putting off a planned summit with Russian President Vladimir Putin in Budapest. Trump previewed Tuesday that the U.S. would make a significant Russia announcement within two days.
The imposition of additional sanctions would be a clear signal that Trump’s patience with Putin is wearing thin as he looks for ways to pressure Russia into a peace deal that would end nearly four years of fighting.
Distinct_Front_4336 on
Also from FT
The US is imposing sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, aiming to “degrade” Vladimir Putin’s war chest and support Donald Trump’s effort to end the war in Ukraine.
The move marks the first time Trump has imposed direct costs on Russia over the war.
“Now is the time to stop the killing and for an immediate ceasefire,” said Treasury secretary Scott Bessent. “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.”
He said the US was prepared to take further action. “We encourage our allies to join us in and adhere to these sanctions,” he said.
A number of Russian-based subsidiaries majority-owned by Rosneft and Lukoil have also been sanctioned under the move, which could bar them from all transactions in US dollars.
Crude oil prices rose more than 3 per cent.
Last week, the UK unveiled sanctions on the two oil majors, while the EU is set to announce its 19th package of penalties on Moscow, including a ban on imports of Russian liquefied natural gas.
In January, the Biden administration imposed sanctions on Russian oil majors Gazprom Neft and Surgutneftegas but held off imposing penalties on Rosneft and Lukoil over concerns that it could drive up global energy prices.
Wednesday’s announcement by the Trump administration means that Russia’s four largest oil companies have now been hit with US sanctions.
Trump has grown increasingly frustrated with Putin over the continued war, now in its fourth year.
“Every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere,” Trump said on Wednesday in the Oval Office.
Asked about the decision to impose sanctions on Moscow, Trump said: “I just felt it was time.”
“These are tremendous sanctions,” Trump said. “We hope that they won’t be on for long. We hope that the war will be settled.”
-------7654321 on
I want to see it before i believe anything from this criminal team in the white house
It’s Rosneft and Lukoil and all their >50%-owned subsidiaries.
This is going to be interesting as Lukoil has a couple of refineries in the EU, e.g. one in Romania (which just happened to experience a fire). The other one is in Bulgaria.
One day EU wont spend more on Russian oil than aid to Ukraine.
AdminEating_Dragon on
There’s 100% some billionaire buddy of Trump who pushed for this so that he profits in the stock market with advance knowledge of what will happen.
Said that, it’s better that his banana republic schemes work against Russia than in favour…
Timely-Switch-2601 on
Trump zig and zags and right now he is zagging. Given the big ramp in oil by the Saudis as of late it is indeed the right time to pull this lever.
In 2022 the war made oil prices shoot up as the world was not ready for a fossil market without Russia. Today, that gap is more and more being filled by rising supply from the middle east, east Asia and the rise of renewable.
wizgset27 on
Then Putin makes a phone call and then the sanction is paused.
Spineless Trump is going to TACO
Technical_Age_3504 on
Ignore this BS. Come back when there is a non US study on the impact of any US sanctions on Russia.
9 commenti
WASHINGTON—The Trump administration is planning substantial new sanctions on Russia, Treasury Secretary Scott Bessent said Wednesday.
“We are going to either announce after the close this afternoon or first thing tomorrow morning a substantial pickup in Russia sanctions,” Bessent told reporters.
Negotiations over ending the war in Ukraine have stalled, with President Trump putting off a planned summit with Russian President Vladimir Putin in Budapest. Trump previewed Tuesday that the U.S. would make a significant Russia announcement within two days.
The imposition of additional sanctions would be a clear signal that Trump’s patience with Putin is wearing thin as he looks for ways to pressure Russia into a peace deal that would end nearly four years of fighting.
Also from FT
The US is imposing sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, aiming to “degrade” Vladimir Putin’s war chest and support Donald Trump’s effort to end the war in Ukraine.
The move marks the first time Trump has imposed direct costs on Russia over the war.
“Now is the time to stop the killing and for an immediate ceasefire,” said Treasury secretary Scott Bessent. “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.”
He said the US was prepared to take further action. “We encourage our allies to join us in and adhere to these sanctions,” he said.
A number of Russian-based subsidiaries majority-owned by Rosneft and Lukoil have also been sanctioned under the move, which could bar them from all transactions in US dollars.
Crude oil prices rose more than 3 per cent.
Last week, the UK unveiled sanctions on the two oil majors, while the EU is set to announce its 19th package of penalties on Moscow, including a ban on imports of Russian liquefied natural gas.
In January, the Biden administration imposed sanctions on Russian oil majors Gazprom Neft and Surgutneftegas but held off imposing penalties on Rosneft and Lukoil over concerns that it could drive up global energy prices.
Wednesday’s announcement by the Trump administration means that Russia’s four largest oil companies have now been hit with US sanctions.
Trump has grown increasingly frustrated with Putin over the continued war, now in its fourth year.
“Every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere,” Trump said on Wednesday in the Oval Office.
Asked about the decision to impose sanctions on Moscow, Trump said: “I just felt it was time.”
“These are tremendous sanctions,” Trump said. “We hope that they won’t be on for long. We hope that the war will be settled.”
I want to see it before i believe anything from this criminal team in the white house
They published the list already: [https://home.treasury.gov/news/press-releases/sb0290](https://home.treasury.gov/news/press-releases/sb0290)
It’s Rosneft and Lukoil and all their >50%-owned subsidiaries.
This is going to be interesting as Lukoil has a couple of refineries in the EU, e.g. one in Romania (which just happened to experience a fire). The other one is in Bulgaria.
Rosneft has share in three in Germany, but >50% only in the Schwedt one, and that is under trusteeship, so I’m not sure if it’s affected. Germany was [pressing them to sell](https://www.dw.com/en/germany-tells-rosneft-find-buyer-or-lose-refinery/a-68477965). When the UK imposed similar sanctions last week, they eventually [made exceptions for that](https://economictimes.indiatimes.com/news/international/world-news/uk-clears-dealings-with-german-managed-rosneft-refineries-amid-russia-sanctions/articleshow/124738339.cms).
One day EU wont spend more on Russian oil than aid to Ukraine.
There’s 100% some billionaire buddy of Trump who pushed for this so that he profits in the stock market with advance knowledge of what will happen.
Said that, it’s better that his banana republic schemes work against Russia than in favour…
Trump zig and zags and right now he is zagging. Given the big ramp in oil by the Saudis as of late it is indeed the right time to pull this lever.
In 2022 the war made oil prices shoot up as the world was not ready for a fossil market without Russia. Today, that gap is more and more being filled by rising supply from the middle east, east Asia and the rise of renewable.
Then Putin makes a phone call and then the sanction is paused.
Spineless Trump is going to TACO
Ignore this BS. Come back when there is a non US study on the impact of any US sanctions on Russia.