The United States Government sanctioned the two largest Russian oil companies to force a ceasefire in Ukraine. The measure, which marks a turn in Donald Trump’s strategy, fueled a strong rebound in crude oil in international markets.
The price of oil recorded a strong rebound this Thursday after the United States announced sanctions against the two largest Russian oil companies, Rosneft and Lukoilin an attempt to pressure Moscow to “immediately agree to a ceasefire” in the Ukraine war. He Brent oil rose 6% and then moderatedlocating in the u$s65.64 per barrelafter knowing Washington’s decision.
Sanctions to force a ceasefire
In an official statement, the Office of Foreign Assets Control (OFAC) The US Treasury Department explained that the measures respond to “Russia’s lack of serious commitment to a peace process.” “The objective is to increase pressure on the Russian energy sector and limit the Kremlin’s ability to finance its war machine,” the text noted. The Secretary of the Treasury, Scott Bessentstressed that “now is the time to stop the killings and achieve an immediate ceasefire.” And he added:
“In the face of President Putin’s refusal to end this senseless war, we sanctioned Russia’s two largest oil companies that financially support the Kremlin. The Treasury stands ready to take further action, if necessary, to support President Trump’s efforts to end another war. We encourage our allies to join in and comply with these sanctions.”
The sanctions reach Rosnefta vertically integrated company that operates in the exploration, extraction, refining and sale of oil and natural gas, already Lukoilwhich carries out similar activities both in Russia and in other international markets.
Lukoil oil Russia gas
A twist in Trump’s strategy
The measure represents a change of course in President Donald Trump’s foreign policywho had recently tried to bring closer positions with the Russian president. According to official sources, the decision was made after Trump canceled the planned meeting with Vladimir Putin in Budapestdue to the Russian leader’s refusal to declare a ceasefire.
Rosneft and Lukoil concentrate almost half of Russia’s crude oil exportsso the sanctions imply a direct blow to the country’s energy income. Asked about the decision, Trump explained: “I just felt it was time. Every time I talk to Vladimir we have good conversations, but they don’t amount to anything.”
The US president also clarified that his objective is not to sustain oil prices at high levels: “I am interested in cheap oil. I hope that the sanctions do not last long and that Putin accepts a ceasefire so that they can be removed soon.”
Source: Ambito
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