"WASHINGTON/BRUSSELS - U.S. President Donald Trump on Wednesday imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting oil companies Lukoil and Rosneft as his frustration grows with Russian President Vladimir Putin over the war.
The move came after EU countries on Wednesday approved a 19th package of sanctions on Moscow for its war against Ukraine that included a ban on Russian liquefied natural gas imports. Trump’s measures also followed Britain’s sanctioning last week of Rosneft and Lukoil.
The U.S. Treasury Department said it was prepared to take further action as it called on Moscow to agree immediately to a ceasefire in Russia’s war in Ukraine, which began in February 2022.
"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," Treasury Secretary Scott Bessent said in a statement. "We encourage our allies to join us in and adhere to these sanctions."
Oil prices jumped more than $2 a barrel after the U.S. measures, with Brent crude futures extending gains after settlement, rising to about $64."
Timothy Gardner and Julia Payne report for Reuters October 23, 2025.
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