Posted on Friday, October 24, 2025
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by Outside Contributor
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The Trump administration is hitting Russian oil companies with fresh sanctions in order to pressure Moscow into agreeing to a peace deal to end the war in Ukraine.
The Treasury Department announced the sanctions Wednesday, to limit the Kremlin’s ability to raise revenue through its energy sector and express dissatisfaction at Russian President Vladimir Putin’s lack of interest in peace negotiations.
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent said in a press release.
“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 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,” Bessent added.
The U.S. sanctions target Russian oil giants Rosneft and Lukoil, both of which specialize in selling petroleum and natural gas. The sanctions also apply to subsidiaries the companies hold at least a 50 percent stake in, whether directly or indirectly.
The sanctions “generally prohibit all transactions” between the named companies and people in the U.S., the release said.
Bessent is imposing the sanctions under a Biden-era executive order expanding U.S. sanctions capability against Russia for harmful foreign activities.
The sanctions come after President Trump publicly floated the possibility of action against Russia for its refusal to seriously engage in peace negotiations.
Trump had separate conversations with Putin and Ukrainian President Volodymyr Zelensky last week about ending the war. Backing off his recent assertion that Ukraine could recapture all of its lost territory, Trump said the territorial lines should remain where they are in order to make a deal.
“The meeting with President Volodymyr Zelenskyy of Ukraine was very interesting, and cordial, but I told him, as I likewise strongly suggested to President Putin, that it is time to stop the killing, and make a DEAL!” Trump wrote Friday on Truth Social.
“Enough blood has been shed, with property lines being defined by War and Guts. They should stop where they are. Let both claim Victory, let History decide! No more shooting, no more Death, no more vast and unsustainable sums of money spent.”
The Kremlin quickly rejected Trump’s cease-fire proposal and said its position on the war had not changed.
Trump was also considering sending Tomahawk missiles to Ukraine to enable it to strike deeper into Russian territory. Although Trump backed off that possibility, the Wall Street Journal reported Tuesday that the U.S. granted Ukraine permission to use the Storm Shadow cruise missile to increase pressure on Russia. Trump denied the Journal‘s reporting in a Truth Social post stating that the U.S. had nothing to do with Ukraine’s use of a Storm Shadow.
“The Wall Street Journal story on the U.S.A.’s approval of Ukraine being allowed to use long range missiles deep into Russia is FAKE NEWS! The U.S. has nothing to do with those missiles, wherever they may come from, or what Ukraine does with them!” Trump wrote.
Trump and Putin were supposed to meet in Budapest to continue negotiations after their call last week. Instead, the White House scrapped the summit and set up a call between Secretary of State Marco Rubio and his Russian counterpart, Minister of Foreign Affairs Sergey Lavrov.
“The Secretary emphasized the importance of upcoming engagements as an opportunity for Moscow and Washington to collaborate on advancing a durable resolution of the Russia-Ukraine war, in line with President Trump’s vision,” State Department spokesman Tommy Pigott said in statement.
Trump told reporters Tuesday that he did not want to waste time meeting with Putin, confirming reports that the summit was scrapped. He did not get into specifics on why the summit fell apart.
Cease-fire discussions between the U.S., Ukraine, and Russia have largely hit a standstill as the war approaches its fourth year. Russia invaded Ukraine in February 2022, attempting to annex all of its territory. Putin’s forces have gained roughly a fifth of Ukrainian territory in what has become a grueling war of attrition.
James Lynch is a news writer for National Review. He previously was a reporter for the Daily Caller. He is a graduate of the University of Notre Dame and based in the Washington, D.C. area.
Reprinted with Permission from The National Review – By James Lynch
The opinions expressed by columnists are their own and do not necessarily represent the views of AMAC or AMAC Action.
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