Trump Imposes Immediate Sanctions on Russian Oil Giants

UPDATE: President Donald Trump has just announced aggressive new sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil, in a significant escalation of efforts to pressure Vladimir Putin to end the ongoing war in Ukraine. The announcement was made during a meeting with NATO Secretary-General Mark Rutte in the Oval Office on October 22, 2025.

“This is a very big day in terms of what we’re doing. These are tremendous sanctions,” Trump declared, emphasizing that the measures aim to financially cripple the Kremlin’s war machine. The Treasury Department confirmed that the sanctions will also extend to the subsidiaries of these major companies.

Trump expressed urgency, stating, “I just felt it was time. We’ve waited a long time.” The new penalties come after months of threats but signal a decisive shift in America’s approach to the ongoing conflict. Treasury Secretary Scott Bessent echoed this sentiment, stating, “Now is the time to stop the killing and for an immediate ceasefire.”

The sanctions are expected to have a profound impact on Russia’s economy, as Rosneft and Lukoil are key players in the global oil market. Bessent noted that these companies are instrumental in funding the Kremlin’s military actions, and the U.S. is prepared to take further measures if necessary.

Earlier in the day, Bessent hinted at the imminent sanctions, stating there would be a “substantial pickup” in actions against Russia. He also confirmed the cancellation of a planned summit with Putin in Hungary, underscoring the lack of progress in negotiations. “It didn’t feel like we were going to get to the place we have to get,” Trump commented on the summit cancellation, although he maintained that dialogue could resume in the future.

NATO’s Rutte emphasized the need for pressure on Putin to bring him to the negotiating table. “It’s all about changing the calculus,” he stated, highlighting the importance of these sanctions as a step towards peace.

As the situation develops, the international community is watching closely. The U.S. urges allies to join in enforcing these sanctions, marking a critical moment in the West’s response to Russian aggression.

This urgent action by Trump reflects a pivotal stance against the ongoing violence in Ukraine and highlights the human impact of the conflict. The sanctions aim not just to cripple Russia’s financial capabilities but to also signal solidarity with the Ukrainian people suffering from the war.

Stay tuned for more updates as this situation progresses, and share this news to keep others informed about these significant developments.