The US Treasury Department imposed new sanctions on Russian oil giants Rosneft and Luke Oil on Wednesday.
The move, the first major sanctions on Russia by the Donald Trump administration in his second term, was taken over Moscow’s refusal to make a serious commitment to the peace process in Ukraine and is aimed at reducing the Kremlin’s revenues to finance the war and supporting Trump’s efforts to achieve an immediate ceasefire.
According to an official statement from the Treasury Department, these sanctions freeze assets owned by Rosneft and Lukoil in the United States and prohibit American companies and individuals from doing any business with them.
Dozens of affiliates of the two companies have also been sanctioned, and the United States has threatened secondary sanctions against foreign financial institutions that do business with them
