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    Home»Business Startups»Trump administration sanctions Russian oil giants to pressure Putin to end Ukraine war
    Business Startups

    Trump administration sanctions Russian oil giants to pressure Putin to end Ukraine war

    FintechFetchBy FintechFetchOctober 23, 2025No Comments6 Mins Read
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    President Donald Trump’s administration announced Wednesday new “massive sanctions” against Russia’s oil industry that are aimed at moving Russian President Vladimir Putin to the negotiating table and bringing an end to Moscow’s brutal war on Ukraine.

    The sanctions against oil giants Rosneft and Lukoil followed months of calls from Ukrainian President Volodymyr Zelenskyy as well as bipartisan pressure on Trump to hit Russia with harder sanctions on its oil industry, the economic engine that has allowed Russia to continue to execute the grinding conflict even as it finds itself largely internationally isolated.

    “Hopefully he’ll become reasonable,” Trump said of Putin not long after the Treasury Department announced the sanctions against Russia’s two biggest oil companies and their subsidiaries. “And hopefully Zelenskyy will be reasonable, too. You know, it takes two to tango, as they say.”

    The U.S. administration announced the sanctions as NATO Secretary General Mark Rutte was in Washington for talks with Trump. The military alliance has been coordinating deliveries of weapons to Ukraine, many of them purchased from the United States by Canada and European countries.

    Treasury Secretary Scott Bessent said the new sanctions were a direct response to Moscow’s refusal to end its “senseless war” and an attempt to choke off “the Kremlin’s war machine.”

    Bessent added that the Treasury Department was prepared to take further action if necessary to support Trump’s effort to end the war. “We encourage our allies to join us in and adhere to these sanctions.”

    The announcement came after Russian drones and missiles blasted sites across Ukraine, killing at least six people, including a woman and her two young daughters.

    The attack came in waves from Tuesday night into Wednesday and targeted at least eight Ukrainian cities, as well as a village in the region of the capital, Kyiv, where a strike set fire to a house in which the mother and her 6-month-old and 12-year-old daughters were staying, regional head Mykola Kalashnyk said.

    At least 29 people, including five children, were wounded in Kyiv, which appeared to be the main target, authorities said.

    Russian drones also hit a kindergarten in Kharkiv, Ukraine’s second-largest city, later Wednesday when children were in the building, Mayor Ihor Terekhov said. One person was killed and six were hurt, but no children were physically harmed, he said.

    Rutte, in his Oval Office appearance, went out of his way to underscore that the weaponry the U.S. is selling Europe to provide to Ukraine has been essential to helping stop many attacks like the one that ravaged the kindergarten.

    “We need to make sure that the air defense systems are in place, and we need the U.S. systems to do that, and the Europeans are paying for that,” Rutte said. “It is exactly the type of actions we needed, and the President is doing that and trying everything to get this work done.”

    Zelenskyy said many of the children were in shock. He said the attack targeted 10 separate regions: Kyiv, Odesa, Chernihiv, Dnipropetrovsk, Kirovohrad, Poltava, Vinnytsia, Zaporizhzhia, Cherkasy and Sumy.

    Peace efforts stall

    Trump’s efforts to end the war that started with Russia’s all-out invasion of its neighbor more than three years ago have failed to gain traction. Trump has repeatedly expressed frustration with Putin’s refusal to budge from his conditions for a settlement after Ukraine offered a ceasefire and direct peace talks.

    Trump said Tuesday that his plan for a swift meeting with Putin was on hold because he didn’t want it to be a “waste of time.” European leaders accused Putin of stalling.

    Meanwhile, in what appeared to be a public reminder of Russian atomic arsenals, Putin on Wednesday directed drills of the country’s strategic nuclear forces.

    Zelenskyy urged the European Union, the United States, and the Group of Seven industrialized nations to force Russia to the negotiating table. Pressure can be applied on Moscow “only through sanctions, long-range (missile) capabilities and coordinated diplomacy among all our partners,” he said.

    More international economic sanctions on Russia are likely to be discussed Thursday at an EU summit in Brussels. On Friday, a meeting of the Coalition of the Willing — a group of 35 countries that support Ukraine — is to take place in London.

    Zelenskyy credited Trump’s remarks that he was considering supplying Tomahawk missiles to Ukraine for Putin’s willingness to meet. The American president later said he was wary of tapping into the U.S. supply of Tomahawks over concerns about available stocks.

    Russia has not made significant progress on the battlefield, where a war of attrition has taken a high toll on Russian infantry and Ukraine is short of manpower, military analysts say. Both sides have invested in long-range strike capabilities to hit rear areas.

    Ukraine says it hit key Russian chemical plant

    The Ukrainian army’s general staff said its forces struck a chemical plant Tuesday night in Russia’s Bryansk region using British-made air-launched Storm Shadow missiles. The plant is an important part of the Russian military and industrial complex, producing gunpowder, explosives, missile fuel and ammunition, it said.

    Russian officials in the region confirmed an attack but did not mention the plant.

    Ukraine also claimed overnight strikes on the Saransk mechanical plant in Mordovia, Russia, which produces components for ammunition and mines, and the Makhachkala oil refinery in the Dagestan republic of Russia.

    The Russian Defense Ministry said its air defenses downed 33 Ukrainian drones over several regions overnight, including the area around St. Petersburg. Eight airports temporarily suspended flights because of the attacks.

    In other developments, Zelenskyy arrived Wednesday in Oslo, Norway, and after that flew to Stockholm, where he and Swedish Prime Minister Ulf Kristersson signed an agreement exploring the possibility of Ukraine buying up to 150 Swedish-made Gripen fighter jets over the next decade or more. Ukraine has already received American-made F-16s and French Mirages.

    Trump says Russia is on the agenda for upcoming Xi talks

    The U.S. president is expected to meet next week with Chinese President Xi Jinping when the two leaders travel to South Korea for the Asia-Pacific Economic Cooperation Summit.

    Beijing has not provided Russia with direct support in the war, but has surged sales to Russia of machine tools, microelectronics and other technology that Moscow in turn is using to produce missiles, tanks, aircraft and other weaponry for use in its war against Ukraine, according to a U.S. assessment.

    Trump has said he believes the Russia-Ukraine war would end if all NATO countries stopped buying oil from Russia and placed tariffs on China of 50% to 100% for its purchases of Russian petroleum.

    “I think he could have a big influence on Putin,” Trump said of Xi Jinping.

    Beijing has yet to confirm that Trump and Xi will meet.

    —Aamer Madhani, Susie Blann, Fatima Hussein, Associated Press

    Associated Press writers Hanna Arhirova, Illia Novikov, Samya Kullab, Andrea Rosa, Yehor Konovalov, and Josh Boak contributed to this report.



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