U.S. Treasury Sanctions Russia's Rosneft and Lukoil Oil Majors, Pressing Moscow to End the War in Ukraine
On October 22, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned Russia's two largest oil companies, Rosneft and Lukoil, along with 34 of their Russia-based subsidiaries. Treasury said the action was taken because Russia lacks serious commitment to a peace process to end the war in Ukraine, and that it increases pressure on Russia's energy sector and degrades the Kremlin's ability to raise revenue for its war machine.
"Now is the time to stop the killing and for an immediate ceasefire," said Secretary of the Treasury Scott Bessent. "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 said Treasury was prepared to take further action if necessary to support President Trump's effort to end the war, and encouraged U.S. allies to join in and adhere to the sanctions.
Rosneft is a vertically integrated energy company engaged in the exploration, production, refining and sale of petroleum, natural gas and related products; Lukoil explores for, produces, refines, markets and distributes oil and gas in Russia and internationally. Both companies were designated under Executive Order 14024 for operating in the energy sector of the Russian Federation's economy.
Under the sanctions, all property and interests in property of the designated persons that are in the United States, or in the possession or control of U.S. persons, are blocked and must be reported to Treasury; entities owned, directly or indirectly, 50 percent or more by a designated person are also blocked even if not separately listed. U.S. persons are generally prohibited from transactions involving the designated companies, and foreign financial institutions that facilitate significant transactions for them risk secondary sanctions.
Source: U.S. Department of the Treasury
Published by GSM · USA (original Chinese edition)
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