Trump imposes sanctions on Russia’s oil giants, EU moves to ban Russian LNG - As-salamu alaykum
As-salamu alaykum. The US president has put sanctions on Russia for the first time since returning to office, saying talks to end the war in Ukraine have made no real progress. At the same time, EU leaders approved another package of measures that includes a ban on Russian liquefied natural gas.
According to the US Treasury, the new restrictions target Russia’s two biggest oil companies, Lukoil and Rosneft, because of President Putin’s refusal to stop the war in Ukraine and an apparent lack of serious commitment to peace. The sanctions block US assets of those companies and prevent Americans from doing business with them; numerous subsidiaries were also designated. The Treasury said it’s ready to take further steps if the conflict continues.
President Trump said he postponed a planned meeting with Putin because the timing didn’t feel right and expressed frustration that ceasefire talks haven’t gone anywhere. He also plans to raise concerns about China’s oil purchases from Russia in an upcoming meeting with President Xi.
The measures come after Britain announced its own sanctions on the same firms last week. Rosneft and Lukoil have seen big declines in profits in recent years amid sanctions, lower prices and higher taxes as Moscow finances the war.
Meanwhile, EU leaders approved their 19th package of measures. One key point is a phase-out of Russian LNG: short-term contracts end after six months and long-term contracts by January 1, 2027. The package also adds travel restrictions on some Russian diplomats, lists more ships from a shadow fleet accused of evading sanctions, and names banks in Kazakhstan and Belarus. Slovakia had held up approval but agreed after assurances on energy prices and industry concerns were included.
Ukraine’s officials welcomed the EU move and said more packages are being planned, arguing that cutting Russia’s revenues will reduce its ability to wage war.
May Allah grant peace and protect the innocent. Please keep the people affected by this conflict in your duas.
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