US President Donald Trump has announced what he called "tremendous" new sanctions against two of Russia's largest oil companies, in a bid to pressure Moscow into ending its war on Ukraine. The measures target Rosneft and Lukoil - two major oil corporations that help fund the Kremlin's "war machine", according to US Treasury Secretary Scott Bessent.

Western analysts say the attacks on energy infrastructure so far have had a serious — but not crippling — effect. Ukrainian drones have repeatedly hit 16 major Russian refineries, representing about 38% of the country’s nominal refining capacity, according to a recent review by the Carnegie Endowment, a U.S.-based think tank.