Trump imposed his first sanctions on Russian oil companies on October 22, the same day he met with Rutte.

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Trump imposed his first sanctions on Russian oil companies on October 22, targeting Rosneft and Lukoil—the country's two largest oil producers that together control nearly half of Russian oil output. This brought the total number of major Russian oil companies under U.S. sanctions to four, following earlier Biden administration penalties on Gazprom Neft and Surgutneftegas. The sanctions froze U.S. assets and banned American entities from transactions with these firms or their 30 subsidiaries. Trump announced the "tremendous sanctions" during his meeting with NATO Secretary General Rutte, saying he hoped they would make Putin "reasonable." The move came after Trump shelved his planned Budapest summit with Putin indefinitely. Treasury Secretary Bessent stated the sanctions targeted companies funding Russia's war efforts, responding to pressure from Zelenskyy and bipartisan lawmakers to escalate economic consequences.

Trump imposed his first sanctions on Russian oil companies on October 22, the same day he met with Rutte.

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