Russia’s President Vladimir Putin responded defiantly to the United States’ sanctions on two major Russian oil firms, Rosneft and Lukoil. Announced by U.S. President Donald Trump, the sanctions aim to squeeze Moscow’s finances and pressure it to end its three‑year‑long invasion of Ukraine. The targeted companies account for nearly half of Russia’s crude‑oil exports, and the announcement triggered a 5 % rise in global oil prices.
Putin called the move an “unfriendly act” that would not improve Russian‑American relations, which he said had only just begun to recover. He also warned that the sanctions could backfire on Trump by causing a spike in global oil prices. Speaking to journalists in Moscow, Putin vowed not to succumb to Western pressure, emphasizing that dialogue is preferable to confrontation.
The European Union has introduced a new wave of sanctions on Russia, further increasing pressure on its war economy. While acknowledging the seriousness of the measures, Putin downplayed their potential impact on the Russian economy, noting that Russia’s heavy reliance on energy revenue allows him to fund the armed forces without sparking inflation or a currency collapse.
The sanctions on Rosneft and Lukoil represent the latest development in Trump’s mixed approach of cooperation and tension aimed at ending the war. Given the importance of oil exports to Russia’s economy, the U.S. and EU sanctions are likely to have significant consequences. The ongoing conflict in Ukraine and the resulting economic pressure on Russia are expected to remain major international concerns in the weeks and months ahead.
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