US sanctions decision against Russia: Assets of giant energy companies seized
US President Donald Trump, who set out on the path of ending the Ukraine-Russia war, was unable to convince Ukrainian President Volodymyr Zelenskyy or hold a productive meeting with Russian President Vladimir Putin.
Following the cancellation of the summit planned to be held in Budapest, the capital of Hungary, between US President Donald Trump and Russian President Putin, the US imposed sanctions on Russia for continuing the war.
Sanctions Decision Against Two Russian Giants Rosneft and Lukoil
The US Treasury Department has imposed new sanctions on two of Russia's largest oil giants, Rosneft-Lukoil, and 34 of their Russia-based subsidiaries. The sanctions freeze all assets of the companies in the US, and foreign financial institutions doing business with these companies could face sanctions. This US action is seen as a crackdown on Russia's energy sector and is intended to cut off its financial resources for the war effort.
WHAT ACTIVITIES ARE RUNNING OUT BY RUSSIA'S TWO GIANT COMPANIES?Rosneft, a Russian company subject to US sanctions, is involved in the exploration, extraction, production, refining, transportation, and sale of oil, natural gas, and petroleum products, while Lukoil provides oil and gas exploration, production, refining, marketing, and distribution both in Russia and globally. These two energy giants constitute Russia's largest financial resources.
MINISTER BESSENT: “PUTIN REFUSES TO CONTINUE THE WAR”
Meanwhile, US Treasury Secretary Scott Bessent reacted strongly to Putin in a statement, saying, "It's time to stop the killing and establish an immediate ceasefire. Because of Putin's refusal to end this senseless war, the Treasury Department is imposing sanctions on Russia's two largest oil companies, which are financing the Kremlin's war machine."
Timeturk
