US imposes new sanctions on Russian oil companies

The U.S. has announced sanctions on Russia's largest oil producers.

The Treasury Department added oil giants Rosneft PJSC and Lukoil PJSC to its blacklist, citing Russia's "failure to demonstrate a serious commitment to a peace process to end the war in Ukraine."

This move represents the Trump administration's strongest effort to date to pressure Russian President Vladimir Putin to end the war in Ukraine.