Washington D.C., October 23, 2025 — As part of efforts to pressure Russia to end its war with Ukraine, U.S. President Donald Trump announced fresh sanctions on two of Russia’s largest oil companies — Lukoil and Rosneft. Trump described these as “severe and significant” sanctions aimed at bringing the prolonged war to an end. Speaking at the White House alongside NATO Secretary-General Mark Rutte, Trump stated, “This is an important day. These are major sanctions against two key Russian oil firms. We hope this will lead to a resolution. Around 8,000 soldiers from both sides have died just last week — this must stop. This war has gone on for four years, and had I been president earlier, it would never have started.” When asked why the sanctions were imposed now, Trump replied that “this was the right time,” noting that the U.S. had been waiting for the appropriate moment. NATO Chief Mark Rutte praised Trump’s leadership, saying his role in overcoming obstacles in talks with President Putin was vital and that NATO was strengthening under Trump’s guidance.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) confirmed the sanctions in a statement, citing Russia’s lack of commitment to peace and its continuation of hostilities in Ukraine. Treasury Secretary Scott Besant said the sanctions would exert strong pressure on Russia’s oil sector and economy, urging Moscow to agree to ceasefire talks and restore peace. He emphasized that Putin’s refusal to stop the war had forced the U.S. to act and warned of additional measures if necessary. The European Union also approved a 19-measure sanctions package, including a ban on Russian LNG imports. Meanwhile, Trump mentioned that India had assured the U.S. it would significantly reduce its oil imports from Russia by the end of this year. Calling it a “positive step,” Trump reiterated that India’s commitment was encouraging — though India has repeatedly denied making such promises.
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