Trump Administration Drastically Increases Sanctions on Russia in Effort to Push Ceasefire in Ukraine
President Donald Trump announced Wednesday a sweeping escalation of U.S. sanctions against Russia, aiming to pressure Moscow into agreeing to a ceasefire in the ongoing Russia-Ukraine war.
In a statement released by the U.S. Department of the Treasury, the administration said it was placing Rosneft Oil Company and Lukoil OAO — Russia’s two largest oil firms — under expanded sanctions pursuant to Executive Order 14024, which targets individuals and entities operating in Russia’s energy sector.
“Today’s actions increase pressure on Russia’s energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy,” the Treasury release stated.
The move blocks dozens of subsidiaries connected to Rosneft and Lukoil, including those involved in oil exploration, development, production, and refining. Any company in which either corporation holds a 50 percent or greater stake will now be subject to U.S. sanctions.
— Rapid Response 47 (@RapidResponse47) October 22, 2025
🚨 BREAKING: In a major announcement, Treasury Secretary Scott Bessent says MASSIVE SANCTIONS against Russia are about to be enacted.
There it is.
"A SUBSTANTIAL increase in Russia sanctions…one of the largest sanctions that we have done against the Russian Federation."… pic.twitter.com/HQ5l4goqzc
— Eric Daugherty (@EricLDaugh) October 22, 2025
Treasury Secretary Scott Bessent said the sanctions were designed to halt the flow of money fueling the war. “Now is the time to stop the killing and for an immediate ceasefire,” Bessent said. “Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine.”
He added that the United States is prepared to impose even stricter measures if needed. “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.”
Speaking from the Oval Office alongside NATO Secretary General Mark Rutte, Trump praised the sanctions package as one of the toughest yet.
“These are tremendous sanctions,” Trump said. “And we hope that they won’t be on for long. We hope that the war will be settled.”
