Ahmed Kamel – Egypt Daily News
In a dramatic escalation of U.S. economic pressure on Moscow, President Donald Trump announced sweeping sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, marking one of the most consequential steps in his administration’s efforts to end President Vladimir Putin’s war in Ukraine.
“Today is a very big day in terms of what we’re doing,” Trump said during a meeting with NATO Secretary-General Mark Rutte in the Oval Office on Wednesday. “These are tremendous sanctions. These are very big. They’re against their two big oil companies, and we hope that they won’t be on for long. We hope that the war will be settled.”
When pressed about the timing of the move, Trump said simply, “I just felt it was time. We’ve waited a long time.”
According to the U.S. Treasury Department, the new sanctions target Open Joint Stock Company Rosneft Oil Company and Lukoil OAO, along with their subsidiaries. The two firms together account for nearly half of Russia’s total oil output, making the decision one of the most far-reaching actions yet taken against Moscow’s energy sector.
“Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine,” Treasury Secretary Scott Bessent said in a statement. “Now is the time to stop the killing and for an immediate ceasefire. Given President Putin’s refusal to end this senseless war, 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 and adhere to these sanctions.”
Bessent had hinted earlier in the day that major action was imminent, telling reporters there would be a “substantial pickup” in the administration’s sanctions campaign against Russia.
The decision also coincided with Trump’s abrupt cancellation of a planned second summit with Putin, which was expected to take place in Hungary in the coming weeks. “It didn’t feel right to me,” Trump said of his decision to call off the meeting. “It didn’t feel like we were going to get to the place we have to get.” He added that a future meeting could still happen, insisting that he believed Putin ultimately “wants peace.”
Seated beside Trump in the Oval Office, NATO Secretary-General Rutte praised the sanctions as a necessary step to increase pressure on Moscow and compel the Russian president to negotiate.
“It’s all about changing the calculus,” Rutte said. “Making sure that Putin understands that the president’s vision this weekend of having a ceasefire, stop where they are that this has to be step one now. And for him to really accept that vision and come to the table, you have to put pressure. And this is exactly what you did today.”
The sanctions underscore a notable shift in Trump’s approach toward Russia, moving from diplomatic overtures to direct economic confrontation. By striking at the heart of Russia’s energy industry the primary source of funding for the Kremlin’s war operations the administration is signaling that Washington is prepared to escalate further unless Moscow shows a willingness to halt its offensive.
Whether these measures will be enough to change Putin’s course remains uncertain. But for now, Trump’s message was unmistakable: “It was time.”
