President Trump denied reports that the US had approved Ukraine’s use of long-range missiles inside Russia, calling the claims “fake news.” The Wall Street Journal had reported that the US can restrict Ukraine’s use of British-supplied Storm Shadow missiles because they rely on American targeting data. Ukraine recently used these missiles to strike a Russian chemical plant producing military supplies, according to Ian Swanson of The Hill. He writes:

“The Wall Street Journal story on the U.S.A.’s approval of Ukraine being allowed to use long range missiles deep into Russia is FAKE NEWS!” Trump posted on his social media site Truth Social.

“The U.S. has nothing to do with those missiles, wherever they may come from, or what Ukraine does with them.” […]

The Journal reported that the lead NATO commander, Gen. Alexus Grynkewich, who is also head of U.S. European Command, was recently transferred the authority for supporting such attacks from Secretary of Defense Pete Hegseth, citing two anonymous U.S. officials.

Sanctions Hit Rosneft and Lukoil to Pressure Moscow

In a related move, the US Treasury’s Office of Foreign Assets Control (OFAC) imposed new sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, along with their subsidiaries. Treasury Secretary Scott Bessent said the sanctions aim to cut funding for the war in Ukraine by blocking US-linked assets and prohibiting related transactions. The US Department of the Treasury reports that the measures are intended to weaken Russia’s economy and increase pressure on Moscow to agree to a ceasefire and a genuine peace process. They write:

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing further sanctions as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine.  Today’s actions increase pressure on Russia’s energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy. The United States will continue to advocate for a peaceful resolution to the war, and a permanent peace depends entirely on Russia’s willingness to negotiate in good faith. Treasury will continue to use its authorities in support of a peace process.

“Now is the time to stop the killing and for an immediate ceasefire,” said Secretary of the Treasury Scott Bessent.  “Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions.”

Today’s action targets Russia’s two largest oil companies, Open Joint Stock Company Rosneft Oil Company (Rosneft) and Lukoil OAO  (Lukoil), which are now designated.  Rosneft is a vertically integrated energy company specializing in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products.  Lukoil engages in the exploration, production, refining, marketing, and distribution of oil and gas in Russia and internationally.

Rosneft and Lukoil are being designated pursuant to E.O. 14024 for operating or having operated in the energy sector of the Russian Federation economy.

Additionally, OFAC is designating a number of Russia-based Rosneft and Lukoil subsidiaries, a list of which is available in Annex 1 below.  All entities owned 50 percent or more, directly or indirectly, by Rosneft and Lukoil are blocked pursuant to E.O. 14024, even if not designated by OFAC.

Read more here.