The United States has imposed sanctions on Rosneft and Lukoil, Russia’s two largest oil companies, the US Treasury Department said in a statement on Wednesday.
These are the first US sanctions against Russia since Donald Trump took office as President, The New York Times reported.
US Treasury Secretary Scott Bessent called for an immediate ceasefire in Ukraine. “Now is the time to stop the killing and for an immediate cessation of hostilities,” he stressed.
Bessent emphasised that the US Treasury stands ready to take further action if necessary to support President Trump’s efforts to end the war. He also urged US allies to join forces and comply with the sanctions against the Russian oil giants.
President Trump had recently suggested meeting with Russian President Vladimir Putin but cancelled the plan on Tuesday.
Speaking alongside NATO Secretary-General Mark Rutte in the Oval Office on Wednesday, the US President said it just didn’t feel right.
When asked why he chose this moment to enact sanctions on Russia, he said he "just felt it was time." He also expressed hope that the sanctions would be temporary.
