"Washington has announced new sanctions against Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure Moscow to agree to a peace deal in Ukraine. This marks the first time the current Trump administration has imposed direct sanctions on Russia. Speaking alongside Nato Secretary-General Mark Rutte in the Oval Office on Wednesday, US President Donald Trump said he hoped the sanctions would not need to be in place for long, but expressed growing frustration with stalled truce negotiations."
"Trump's move is designed to cut off vital oil revenues, which help fund Russia's ongoing war efforts. Earlier on Wednesday, Russia unleashed a new bombardment on Ukraine's capital, Kyiv, killing at least seven people, including children. US Treasury Secretary Scott Bessent said the new sanctions were necessary because of Putin's refusal to end this senseless war. He said that Rosneft and Lukoil fund the Kremlin's war machine."
The US imposed sanctions targeting Rosneft and Lukoil to cut key oil revenues that fund Russia’s military operations in Ukraine. The measures freeze the companies’ US assets, bar US entities from engaging with them, and sanction thirty subsidiaries. Together the firms export 3.1 million barrels per day, about 70% of Russia’s overseas crude sales. Rosneft is Kremlin-controlled and ranks as Russia’s second-largest company by revenue; Lukoil is the largest non-state energy firm. Officials expressed hope the sanctions would be temporary but voiced frustration with stalled truce negotiations and continued attacks on Kyiv.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]