The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced additional sanctions against Russia, citing “Moscow’s lack of genuine interest in the peace process.”
“Today’s sanctions target two of Russia’s largest oil companies: OAO Rosneft Oil Company and OAO Lukoil,” the Treasury Department’s press office said in a statement.
Treasury Secretary Scott Bessent stated that the new package would be among the most extensive ever imposed by Washington against Moscow.
“This is one of the largest sanctions packages we have ever introduced against Russia,” he said in an interview with Fox News.
Bessent did not disclose specific details of the measures but emphasized that they represent a “substantial increase in pressure.” According to him, the sanctions will take effect on Wednesday evening or Thursday morning local time.
The Secretary added that the U.S. is tightening restrictions because of Moscow’s stance in negotiations over Ukraine.
“President Putin did not come to the negotiating table honestly and openly, as we had hoped,” he said.
Bessent also recalled earlier meetings, including one in Alaska, where, according to him, U.S. President Donald Trump left the talks “realizing that the situation was not progressing.” “The President is disappointed with how the negotiations are going,” the Treasury chief added.
Shares of Lukoil and Rosneft began to fall sharply following the announcement of the new U.S. sanction
The United States is expected to announce a “significant strengthening” of sanctions against Russia within the next 24 hours.
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