Washington Targets Russian Oil Giants Rosneft and Lukoil as Peace Talks Stall

The United States has imposed a new round of major sanctions targeting Russia’s energy giants Rosneft and Lukoil, in response to what Washington described as Moscow’s continued reluctance to engage seriously in peace efforts to end the Russian-Ukrainian war.
The Gaze reports this, referring to the U.S. Department of the Treasury.
The measures mark the first large-scale sanctions adopted under President Donald Trump’s second administration. The Treasury said the restrictions were introduced due to “Russia’s lack of genuine commitment to the peace process aimed at concluding 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 Treasury statement reads.
The sanctions specifically target Rosneft and Lukoil, along with several of their subsidiaries and any entities in which they hold, directly or indirectly, a 50% or greater ownership stake.
Treasury Secretary Scott Bessent said the move is intended to send a clear message to Moscow that “it is time to stop the killing and agree to 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,” Bessent said. “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.”
The announcement came shortly after President Trump revealed he had canceled a planned meeting with Russian President Vladimir Putin in Budapest, which had been tentatively agreed upon during a phone conversation last week.
Speaking to reporters at the White House on Wednesday, Trump said that while communication with Moscow continues, progress toward a peace deal has been slow.
“It didn’t feel like we were going to get to the place we have to get – so I canceled it, but we’ll do it in the future,” he said.
The U.S. president expressed frustration over the lack of tangible results from his recent talks with the Kremlin.
When asked whether he believed Putin truly wanted to end the war, Trump responded affirmatively.
"I think they want peace, I think they both want peace,” Trump said. “At this point it’s been, you know, it’s almost four years. You’re going into four years. And if I were president, it never would have started. But, yeah, it’s time.”
As The Gaze reported earlier, U.S. President Donald Trump said that India will continue to pay “massive” tariffs on its exports to the US if it does not stop buying Russian oil.