Trump Plans New Sanctions on Russian Oil Firms to Pressure Putin for Peace Talks

President Donald Trump is advancing a robust new sanctions strategy targeting Russia's major oil companies, Rosneft and Lukoil, aiming to cut off funds for Russia's military operations in the Ukraine conflict. U.S. Ambassador to NATO Matthew Whitaker highlighted that these sanctions are intended to pressure Russian President Vladimir Putin to negotiate a ceasefire and end the war, with the U.S. prepared to enforce them rigorously and impose secondary sanctions on countries continuing trade with Russia. Although oil prices rose initially following the sanctions announcement, market reactions have been cautious due to uncertainty about enforcement, but Whitaker indicated this is only the first step in a series of measures. The coordinated approach with European and allied nations is designed to deepen economic pressure, potentially disrupting Russia's oil exports significantly, including to major buyers like India and China. Whitaker emphasized that President Trump is determined to use all available leverage to push for peace negotiations, portraying the sanctions as a strategic move to alter the war's dynamics. The sanctions have already impacted Russian oil company shares, reflecting market concerns over the sanctions' potential to curtail Russia's export revenues.