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22h ago

U.S. Oil Sanctions Escalate as Putin Envoy in U.S. Claims Talks Are Close

Kirill Dmitriev's U.S. meetings follow a postponed Trump–Putin summit, highlighting tension between new sanctions versus backchannel talks.

The Druzhba oil pipeline between Hungary and Russia at a refinery in Szazhalombatta, Hungary.
Image
Plastic letters arranged to read "Sanctions" are placed in front the flag colors of U.S. and Russia in this illustration taken February 28, 2022. REUTERS/Dado Ruvic/Illustration

Overview

  • The U.S. Treasury this week blacklisted Rosneft and Lukoil and dozens of subsidiaries, intensifying pressure on Moscow’s wartime revenue.
  • Kremlin envoy Kirill Dmitriev, now in the United States on a long‑planned visit, said Russia, the U.S., and Ukraine are “quite close” to a diplomatic solution.
  • Dmitriev argued the oil measures will not significantly hurt Russia and predicted higher U.S. gasoline prices as a consequence of tighter supply.
  • U.S. media report Dmitriev is expected to meet Trump special envoy Steve Witkoff in Miami today as informal channels proceed despite hardened public stances.
  • President Volodymyr Zelenskyy urged Washington to extend oil sanctions to the entire Russian sector and pressed for long‑range missiles, while the Trump–Putin meeting is on hold and Putin warned Tomahawk transfers would be an unfriendly act.