In major policy shift, Trump switches from tariffs to sanctions, bars Russia's two biggest oil companies
Published on: Oct. 23, 2025, 6:01 a.m. | Source: The Economic Times
America has imposed sanctions on Russia's top oil firms, Lukoil and Rosneft. This move targets companies over funding of Russia's war in Ukraine. The US Treasury Department stated it is ready for more actions. Russia has been urged to agree to an immediate ceasefire. This policy shift follows similar actions by Britain last week.
