In a sharp escalation of his Ukraine policy, US President Donald Trump has slapped sanctions on Russia’s top oil producers, Rosneft and Lukoil, accusing Moscow of showing “no serious commitment” to ending the war in Ukraine. The move marks the first set of Ukraine-related sanctions Trump has issued since returning to office.
The announcement came late Wednesday through a post on Trump’s Truth Social account, which carried a statement from the US Department of the Treasury titled, “Treasury sanctions major Russian oil companies, calls on Moscow to immediately agree to ceasefire.”
Treasury Secretary Scott Bessent said the decision targeted “Russia’s two largest oil companies that fund the Kremlin’s war machine,” adding that Washington was “prepared to take further action if necessary” and urging allies to follow suit.
‘Modi’s cutting back on Russian oil,’ says Trump
The sanctions coincide with Trump’s repeated claims that India, under Prime Minister Narendra Modi, has promised to scale down Russian oil imports. During Diwali celebrations at the White House on Tuesday, Trump told attendees he had spoken to Modi, who “wants to see that war end as much as I do” and “is not gonna buy much oil from Russia.”
However, New Delhi has not confirmed any such communication. When asked about Trump’s earlier remarks, Ministry of External Affairs spokesperson Randhir Jaiswal said he was “not aware” of a recent call between the two leaders. Trump later suggested that India could continue facing heavy US tariffs if it did not comply, a reference to the 50% duties currently imposed on Indian goods, half of which are linked to its Russian oil purchases, according to Reuters.
Meanwhile, a potential Trump-Putin meeting in Budapest appears shelved. “We cancelled the meeting… it didn’t feel right to me,” Trump said on Wednesday alongside NATO Secretary General Mark Rutte.
As the war nears its fourth year, Washington’s fresh sanctions signal Trump’s growing impatience and a bid to force Moscow back to the negotiating table.
