German Chancellor Friedrich Merz said he’s optimistic that the US will exempt Rosneft PJSC’s German unit from Washington’s latest sanctions against Russia.

Trump “is seriously breaking the ice with these measures,” former Russian deputy energy minister Vladimir Milov told Newsweek.

Days after canceling a planned summit with Putin, citing a lack of progress toward ending the war in Ukraine, Trump took a major step by effectively blacklisting Rosneft and Lukoil.

"Now is the time to stop the killing and for an immediate ceasefire," Treasury Secretary Scott Bessent said. "Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine.

Oil prices on Friday posted their biggest weekly gains since June, after the U.S. imposed sanctions Wednesday on Russia’s Rosn

Germany is seeking an exemption from U.S. sanctions on Russian oil company Rosneft's German business, a person with direct knowledge of the government discussions said on Thursday, after banks said sanctions could stop them dealing with the local energy supplier.

America’s latest sanctions on top Russian oil producers throw India’s lucrative energy strategy into disarray, leaving it to navigate soaring costs, disrupted supplies, and the politics of managing relations with Washington and Moscow.