Trump Imposes New Sanctions on Russia’s Oil Giants Amid War Pressure

President Donald Trump announced on October 22, 2025, a significant escalation in U.S. sanctions against Russia, targeting the country’s two largest oil companies, Rosneft and Lukoil. The sanctions aim to apply pressure on President Vladimir Putin to end his ongoing military actions in Ukraine.

During a meeting with NATO Secretary-General Mark Rutte in the Oval Office, Trump stated, “Today is a very big day in terms of what we’re doing. These are tremendous sanctions. These are very big.” He expressed hope that the sanctions would not remain in effect for long, indicating a desire for a resolution to the conflict. “I just felt it was time. We’ve waited a long time,” he added, responding to questions about the timing of the sanctions.

According to the U.S. Treasury Department, the new economic penalties target the main operations and subsidiaries of Rosneft and Lukoil, companies that are integral to financing the Kremlin’s military efforts. Treasury Secretary Scott Bessent emphasized the urgent need for a ceasefire, stating, “Now is the time to stop the killing and for an immediate ceasefire.” He described the sanctions as a necessary step in response to Putin’s refusal to cease hostilities.

In a press briefing earlier that day, Bessent hinted at the imminent sanctions, mentioning a “substantial pickup” in actions against Russia. He also announced the cancellation of a planned summit with Putin, which was set to occur in Hungary in the coming weeks. Bessent stated, “It didn’t feel like we were going to get to the place we have to get,” but he maintained that discussions could happen in the future.

Rutte reinforced the importance of the sanctions, suggesting they would create pressure on Putin to negotiate. “It’s all about changing the calculus,” he explained. He reiterated that the goal is for Putin to understand that a ceasefire must be the first step towards peace.

The sanctions represent one of the most significant moves by the U.S. government amid ongoing international efforts to resolve the conflict in Ukraine. Both Trump and Bessent have called on allied nations to join in enforcing these new penalties against Russia’s vital oil industry.

As global tensions continue to rise, the effectiveness of these sanctions in compelling a change in Russian policy remains to be seen. The international community watches closely as the situation develops, with hopes that diplomatic negotiations may soon resume.