The US is imposing sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, aiming to “degrade” Vladimir Putin’s war chest and support Donald Trump’s effort to end the war in Ukraine. The move marks the first time the Trump administration has imposed direct costs on Moscow over its full-scale invasion.

The Trump administration announced sanctions on Russia’s biggest oil producers, rolling out its first major package of financial punishments on President Vladimir Putin’s economy as part of a fresh push to end the war in Ukraine.

Oil prices surged around 5% to a two-week high on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over Russia's war in Ukraine. Sanctions against Russia could reduce the supply of oil available to global markets as Russia was the world's second-biggest crude producer in 2024 after the U.

EADaily, . Rosneft's subsidiaries in Germany should not fall under new US sanctions. This was stated by German Chancellor Friedrich Merz.