The US unveiled new sanctions on Russia’s biggest oil producers as Washington ramped up pressure on Moscow to end the war in Ukraine.
The sanctions on Rosneft and Lukoil were accompanied by further penalties from the EU, sending global oil prices 5% higher. Meanwhile, The Wall Street Journal reported that Washington lifted restrictions on Ukraine’s use of European long-range missiles, enabling Kyiv to attack deeper into Russia: It has recently been targeting key oil and gas infrastructure, kneecapping the industries that drive roughly a fifth of Russia’s GDP. It’s “time to stop the killing and for an immediate ceasefire,” US Treasury Secretary Scott Bessent said.