Trump hits Russia’s oil giants with sanctions, EU bans Russian LNG

United States President Donald Trump has imposed sanctions connected Russia for the archetypal clip since returning to the White House, citing a deficiency of advancement successful ceasefire talks to extremity Moscow’s warfare connected Ukraine. The aforesaid day, European Union leaders approved their 19th Russian sanctions package.

US Treasury Secretary Scott Bessent said the sanctions would people Russia’s 2 largest lipid companies, Lukoil and Rosneft, owed to Russian President Vladimir Putin’s “refusal to extremity this senseless war” successful Ukraine and Moscow’s “lack of superior commitment” to the bid process.

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“Today’s actions summation unit connected Russia’s vigor assemblage and degrade the Kremlin’s quality to rise gross for its warfare instrumentality and enactment its weakened economy,” Bessent said successful a connection connected Wednesday.

“We promote our allies to articulation america successful and adhere to these sanctions,” helium said.

The measures taken by the Department of the Treasury, which besides sanctioned dozens of Rosneft and Lukoil subsidiaries, artifact the US assets of the designated firms, portion preventing Americans from doing concern with them. Notably absent from the US sanctions were Chinese and Indian buyers of Russian oil.

Trump said connected Wednesday that helium would rise concerns astir China’s purchases of Russian lipid during his sit-down with President Xi Jinping astatine the 2025 APEC acme successful South Korea adjacent week.

The US Treasury Department besides said it was prepared to instrumentality further enactment if Russia continues to wage its more-than-three-year warfare successful Ukraine.

Russia has yet to contented a nationalist effect to the US measures.

‘No spot for Russia successful planetary markets’

Kremlin-controlled Rosneft is Russia’s second-largest institution successful presumption of gross – down lone state elephantine Gazprom – but it has been deed hard successful caller years by sanctions and falling lipid prices. In September, it reported a 68 percent year-on-year diminution successful nett income for the archetypal fractional of 2025.

Lukoil, Russia’s third-largest steadfast and its largest non-state enterprise, besides posted a 26.5 percent autumn successful profits for 2024, citing accrued taxation arsenic Moscow funds its warfare effort successful Ukraine.

Last week, the United Kingdom announced its ain sanctions against some firms, saying that determination was “no spot for Russia successful planetary markets” and Britain would instrumentality each steps to halt Moscow from backing its warfare successful Ukraine.

Now is the clip to halt the sidesplitting and for an contiguous ceasefire. Given President Putin’s refusal to extremity this senseless war, Treasury is sanctioning Russia’s 2 largest lipid companies that money the Kremlin’s warfare machine. Treasury is prepared to instrumentality further enactment if necessary… https://t.co/tbJTyf8x2V

— Treasury Secretary Scott Bessent (@SecScottBessent) October 22, 2025

The sanctions travel arsenic Trump’s patience with President Putin appears to beryllium wearing thin, with ceasefire talks continuing to marque small progress.

Speaking to reporters astatine the White House connected Wednesday aft announcing helium had postponed his planned gathering with Putin successful Hungary, Trump said the timing of the gathering felt off.

“We cancelled the gathering with President Putin – it conscionable didn’t consciousness close to me,” Trump said. “It didn’t consciousness similar we were going to get to the spot we person to get. So I cancelled it, but we’ll bash it successful the future,” helium said.

The US person said helium hoped the sanctions would not request to beryllium successful spot for long, but expressed increasing vexation with stalled truce negotiations.

“Every clip I talk with Vladimir, I person bully conversations, and past they don’t spell anywhere. They conscionable don’t spell anywhere,” helium said.

EU turns up the heat

Washington’s sanctions were announced connected the aforesaid time arsenic the EU said it had besides approved its 19th bundle of sanctions against Moscow implicit its warfare against Ukraine, including an EU prohibition connected Russian liquefied earthy state (LNG) imports.

“We are precise pleased to denote that we person conscionable been notified by the remaining subordinate authorities that it’s present capable to assistance its preservation connected the 19th sanctions package,” the Danish rotating presidency of the EU said successful a statement.

Slovakia had been holding retired aft the EU agreed connected the last substance past week. Prime Minister Robert Fico was seeking assurances from the European Commission connected precocious vigor prices and aligning clime targets with the needs of carmakers and dense industry.

New clauses gathering Slovakia’s demands were added to the last communique connected the caller bundle of sanctions successful beforehand of the EU leaders’ acme successful Brussels connected Thursday, a Slovak diplomat told the Reuters quality agency.

The caller bundle volition spot short-term LNG contracts with Russia extremity aft six months, and semipermanent contracts extremity from January 1, 2027.

The sanctions besides adhd caller question restrictions connected Russian diplomats and database 117 much vessels from Moscow’s shadiness fleet of clandestine sanctions-evading vessels, bringing the full to 558, arsenic good arsenic banks successful Kazakhstan and Belarus.

Andriy Yermak, Ukrainian President Volodymyr Zelenskyy’s main of staff, celebrated the bundle but said “we are not stopping”.

“Package no. 20 is already successful the works,” helium wrote connected Telegram.

“The logic is elemental – little wealth successful Russia means less missiles successful Ukraine,” helium said.