23.10.2025 10:32
The United States has added Russia's two major oil companies, Rosneft and Lukoil, along with their subsidiaries, to its sanctions list. Following the decision to impose sanctions on these two major oil companies, including Lukoil, which has over 600 branches in Turkey, oil prices have risen globally.
The U.S. has included Russia's two largest oil companies, Rosneft and Lukoil, along with their subsidiaries, in the sanctions list due to a "serious lack of commitment" in the peace process aimed at ending the war in Ukraine.
The U.S. Department of the Treasury stated that the sanctions aim to increase pressure on Russia's energy sector, "limiting the Kremlin's capacity to generate revenue for the war and support its weakening economy." The statement emphasized that the Treasury Department will continue to use all its authorities to support the peace process, stating, "The U.S. will continue to advocate for a peaceful resolution to the war, and lasting peace depends on Russia's willingness to negotiate in good faith."
"WE CALL ON OUR ALLIES TO JOIN THE SANCTIONS"
U.S. Treasury Secretary Scott Bessent expressed that sanctions have been imposed on two major oil companies financing the Kremlin's war due to Russian President Vladimir Putin's refusal to end the war, stating, "The Treasury Department is prepared to take further steps if necessary to support President Donald Trump's efforts to end another war. We also call on our allies to join these sanctions."
LUKOIL AND ROSNEFT'S DOZENS OF SUBSIDIARIES ON THE SANCTIONS LIST
Under the sanctions, subsidiaries of Lukoil such as Perm, Aik, Kaliningradmorneft, West Siberia, Uraloil, and Russian Innovation Fuel and Energy Company have been listed. It was noted that these companies are involved in oil and natural gas exploration, production, and technology development activities in Russia. Rosneft also had approximately 30 subsidiaries, including Bashneft Dobycha, Vankorneft, Samaraneftegaz, RN Tuapse Oil Refinery, Orenburgneft, Yuganskneftegaz, and Ryazan Oil Refinery, subjected to sanctions. These companies are engaged in oil production, refinery operations, and natural gas field development activities across the country.
ALL ASSETS FROZEN
In a statement from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), it was noted that all assets of these companies located in the U.S. or controlled by U.S. citizens have been frozen. Additionally, all other companies with a direct or indirect 50% or more ownership stake in sanctioned individuals or entities have automatically fallen under the sanctions. U.S. citizens or institutions conducting transactions through the U.S. are prohibited from engaging in any financial transactions with these assets.
OIL PRICES ON THE RISE
Following the U.S. decision to impose sanctions on two major oil companies, including Lukoil, which has over 600 branches in Turkey, oil prices have risen globally.
INCREASED BY OVER 2%
Oil prices rose by over 2% due to increased supply concerns following the U.S. sanctions on major Russian oil suppliers like Rosneft and Lukoil due to the Ukraine war.
The price of Brent crude oil is finding buyers at $64.37 in international markets. Yesterday, the price of Brent crude oil rose to $63.56, closing the day at $62.95. As of 09:17 today, the price of Brent crude oil has increased by 2.2% to $64.37. At the same time, the price of West Texas Intermediate crude oil was trading at $60.62.