The Trump administration has sanctioned Rosneft, a move experts call the “most important” yet against Russia’s economy, but doubts about enforcement are already clouding the announcement. The US also sanctioned Lukoil, Russia’s largest private oil firm.
Former sanctions official Edward Fishman noted that Rosneft was the “most important Russian firm not yet under full US sanctions.” However, he stressed that the impact “will depend on the US commitment to active, ongoing enforcement.” The key question is whether the US will target foreign banks and traders who continue to deal in Russian oil.
The sanctions were announced by Treasury Secretary Scott Bessent, who blamed “President Putin’s refusal to end this senseless war” and called for an “immediate ceasefire.”
The economic pressure comes amid a diplomatic breakdown. President Trump confirmed he had cancelled a planned summit with Vladimir Putin, citing a lack of progress.
The US move, which goes further than the EU’s by including Lukoil, was praised by European allies. European Commission President Ursula von der Leyen said it was a “clear signal” of “collective pressure” as the EU readies its own 19th sanctions package.
37