The White House has announced a significant escalation in sanctions against Russia, targeting the country’s largest oil companies in an effort to apply maximum economic pressure amid the ongoing conflict in Ukraine. On October 22, 2025, the U.S. Treasury Department imposed sanctions on Rosneft and Lukoil, along with their subsidiaries. These measures freeze U.S.-held assets and prevent U.S. companies and citizens from engaging in business with the sanctioned entities. Together, Rosneft and Lukoil account for a substantial portion of Russia’s oil production, making them a key source of revenue for the Kremlin. The sanctions are set to take effect on November 21, 2025, signaling a firm stance from Washington that economic consequences will follow continued aggression. In coordination with the U.S., the European Union unveiled its 19th sanctions package against Russia. This includes a phased ban on Russian liquefied natural gas (LNG) imports, restrictions on over 100 vessels in Rus...