KYIV — There were cheers in Ukraine and the EU when the Trump administration sanctioned Russia’s two biggest oil companies Wednesday.
The U.S. sanctions “are a clear signal that prolonging the war and spreading terror come at a cost,” Ukrainian President Volodymyr Zelenskyy said in a post on X on Thursday. “This is a fair and absolutely deserved step. It is precisely pressure on Russia that will be effective for achieving peace, and sanctions are one of its key components.”
He also called it “a strong and much-needed message.”
The U.S. slapped sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, and their subsidiaries in an attempt to pressure Russia to take ceasefire negotiations more seriously.
“I just felt it was time,” Trump said less than a week after he announced that he’d be meeting with Russian President Vladimir Putin in Hungary and declared that the Russian leader was ready for peace.
This was the first time Trump has slapped any sanctions on Russia. The European Union’s 19th package of sanctions against Russia will likely be approved Thursday after Slovakia dropped its opposition late Wednesday. Across the bloc, there was also support for the U.S. move.
U.S. “Treasury decision to sanction major Russian oil companies in the face of Russia’s lack of commitment to the peace process. With the imminent adoption of the EU’s 19th package, this is a clear signal from both sides of the Atlantic that we will keep up collective pressure on the aggressor,” European Commission President Ursula von der Leyen said in a post on X Wednesday night.
“So it happened. … The beauty of this decision is its comprehensiveness. The complete oil infrastructure is subject to sanctions as it should be. I think the effect will be big and quick,” the Ukrainian president’s sanctions envoy, Vladyslav Vlasiuk, said in a post on Facebook on Thursday.
The sanctions target not only Lukoil and Rosneft but also dozens of their subsidiaries.
“Those subsidiaries cover all key links in the oil and gas business — exploration, production, transportation, processing, trade, and service,” Vlasiuk said.
Rosneft alone accounts for approximately 40 percent of Russia’s oil production and 14 percent of its gas production, and remains the primary contributor to the federal budget, having paid 6.1 trillion rubles in taxes in 2024. The company also has a fleet of at least 39 vessels.
“What adds spice to this particular solution is that Lukoil, Rosneft, and others were preparing cooperation proposals for the U.S. — on the eve of Anchorage [summit], Reuters reported this, and we also knew about it from other sources,” Vlasiuk said.
“U.S. sanctions open Pandora’s box. We are working to have more.”
The post Ukraine and EU cheer Trump’s sanctions on Russian oil appeared first on Politico.
