US Treasury discusses sanctions on Russian oil firms with Ukraine

US Treasury Secretary Scott Bessent met with Ukrainian Prime Minister Yulia Svyrydenko to discuss Washington’s sanctions policy toward Russian oil companies and support for reforms and anti-corruption efforts in Ukraine.

On his X account, the US Treasury chief reaffirmed President Donald Trump’s commitment to ensuring a sustainable, long-term peace in Ukraine, Caliber.Az reports.

He also addressed US sanctions targeting major Russian oil corporations, Rosneft and Lukoil.

“I also reiterated the importance of driving Ukraine’s reform and anti-corruption agenda forward,” Bessent said, highlighting Svyrydenko’s role in swiftly launching the US-Ukraine Reconstruction Fund and praising her leadership.

According to the secretary’s statement, the fund aims to mobilise American personnel, resources, and management standards to improve Ukraine’s investment climate while preventing individuals or entities that supported Russia’s war from benefiting from the country’s reconstruction.

I appreciated the opportunity to speak this morning with Ukrainian Prime Minister @Svyrydenko_Y and her team.

During our meeting, I highlighted President Trump’s commitment to securing a lasting peace in Ukraine and discussed Treasury’s sanctions on Russia’s top oil giants,…

— Treasury Secretary Scott Bessent (@SecScottBessent) December 9, 2025

In 2025 US government, through the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, placed Rosneft and Lukoil on its “Specially Designated Nationals and Blocked Persons” list (SDN), effectively blocking all US persons from dealing with them and freezing any assets under US jurisdiction.

This marked the first time under the current administration that such sweeping sanctions targeted Russia’s two largest oil producers, together responsible for roughly 50‑55% of Russia’s oil production.

US officials framed the move as part of broader efforts to cut off funding that fuels Russia’s war in Ukraine, signalling that energy-sector sanctions are a key lever in pressuring Moscow.

The designation also triggered fallout for Lukoil’s global presence: the company announced plans to divest foreign assets and wind down international operations, triggering what some observers call a “fire sale.”

By Jeyhun Aghazada