The US imposed sanctions against Russia's largest oil companies. Oil prices rose

The United States has announced sanctions against Russia's largest oil companies. The Treasury Department has blacklisted Rosneft and LUKOIL, as well as their subsidiaries. In a statement released on Wednesday, October 22, it said the decision was due to Russia's "lack of serious commitment to a peace process aimed at ending the war in Ukraine." Such a move would undermine the Kremlin's ability to generate revenues to finance the army, the text reads.

"It's time to stop the killing and declare a truce immediately," Treasury Department head Scott Bessent urged. - The Treasury Department stands ready to take further action if necessary to support President Trump's efforts to resolve another conflict."

"I just felt it was time," Trump himself said a little later in a meeting with NATO Secretary General Mark Rutte, Bloomberg reports . According to the U.S. president, he hopes that the sanctions "won't last long."

Brent crude contracts for delivery in December rose by more than 4.3% after the announcement of new U.S. measures, according to data from the Intercontinental Exchange. Rosneft and LUKOIL account for almost half of all crude oil exports from Russia, according to Bloomberg estimates .

Washington announced the new package of sanctions a day after the White House ruled out that the previously announced meeting between the US and Russian presidents would take place in the near future. Trump explained that he did not want to hold the summit "for nothing".

At a meeting with Rutte on October 22, the American leader added: "Every time I talk to Vladimir [Putin], the conversation goes well, but then it gets deadlocked," while Trump clarified that he still expects a bilateral meeting in the future, Bloomberg writes.

This article was AI-translated and verified by a human editor