The US and its European allies are tightening the economic noose on Russia, with the Trump administration sanctioning oil giants Rosneft and Lukoil and the EU preparing its 19th sanctions package.
European Commission President Ursula von der Leyen praised the US move, calling it a “clear signal from both sides of the Atlantic that we will keep up collective pressure on the aggressor.” She confirmed she had spoken with US Treasury Secretary Scott Bessent.
The US sanctions, the first of the new Trump term, are aimed at cutting off revenue for Putin’s “war machine.” Bessent blamed Putin’s “refusal to end this senseless war” for the action.
The EU’s forthcoming package is expected to be aggressive, including a ban on Russian LNG, blacklisting “shadow fleet” oil tankers, and targeting banks that help Russia evade existing sanctions.
The coordinated pressure marks a victory for Ukraine. It also comes as President Trump cancelled a planned summit with Vladimir Putin, citing a lack of progress in peace talks.