Trump administration hits Russia's top oil firms with sanctions to stunt war funding, urges ceasefire

The Treasury Department under President Donald Trump sanctioned Russia’s two largest oil producers, Rosneft and Lukoil, on Tuesday escalating pressure on the Kremlin to end its war in Ukraine. Treasury Secretary Scott Bessent said the move targets the oil companies that "fund the Kremlin's war machine" and called on Moscow to agree to an "immediate ceasefire." "Now is the time to stop the killing and for an immediate ceasefire," said Secretary of the Treasury Scott Bessent.  "Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies t