This photo shows the Lukoil logo on a fuel storage tank at the Rosenets port terminal on the Black Sea coast near the city of Burgas, Bulgaria, on November 14, 2025. Nikolai Deutchinov/AFP
WASHINGTON—U.S. President Donald Trump’s sanctions against two Russian oil companies in October are “having their intended effect” on the country’s oil revenues, according to a Treasury Department market reaction report.
“President Trump targeted Russia’s two largest oil companies in one of the most impactful Treasury Department actions ever.” A Treasury Department spokesperson told The Epoch Times via email on November 18th.
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