US President Donald Trump has imposed sanctions on two of Russia’s largest oil companies.
Rosneft and Lukoil, as well as dozens of their subsidiaries, were hit by the new restrictions.
Treasury Secretary Scott Bessent said this was due to Russia’s “lack of serious commitment to a peace process to end the war in Ukraine.”
He added: “Given President Putin’s refusal to end this senseless war, the Treasury is imposing sanctions on Russia’s two largest oil companies that fund the Kremlin’s war machine.”
“We encourage our allies to join us and adhere to these sanctions.”
The move marks a notable shift in Washington, which has oscillated between pressuring Moscow and pursuing a more conciliatory approach.
The US has long raised concerns with countries that buy Russian oil, previously imposing sanctions on India for this action and also consistently criticizing European countries.