Source: CCTV International
[U.S. sanctions Russia's two largest oil companies] U.S. Treasury Secretary Bescent announced on October 22 that the United States would sanction Russia's two largest oil companies and urged Russia and Ukraine to cease fire immediately. This is the first time that US President Trump has imposed new sanctions on Russia during his second term. When Trump met with visiting NATO Secretary General Rutte at the White House on the same day, he also said that he canceled the originally planned meeting with Russian President Vladimir Putin in Hungary because he felt "the timing was wrong".
Regarding sanctions, Trump said he hoped sanctions against Russian oil companies "will not need to last too long."
Bescent said in a statement that the U.S. sanctions target Russian state-owned enterprise Rosneft and private enterprise Lukoil. The statement did not explicitly mention the effective date of the sanctions. According to Bloomberg estimates, the crude oil exports of these two companies together account for nearly 50% of Russia's total crude oil exports.