U.S. Sanctions Rosneft and Lukoil: Turning Up the Heat on Russia’s War Economy

Recently on 22nd Oct 2025, OFAC - Office of Foreign Assets Control of the US treasury, announced to sanction two of the largest Russian Oil Companies – Rosneft Oil Company and Lukoil Oil Company as per order number 14024.

The sanctions will also include the companies where above two have ownership of more than 50%.

In 2024 revenue for both the companies were

• Rosneft ~ $120 billion

• Lukoil ~ $102 billion

  
  

Impact

• This move will make Russia to turn to China and India.

• It will reduce the supply of oil at Global level and chances are there for increase in the price of oil at global level.

• This will create a risk of escalation and in unforeseen consequences.

  
  

There has been no response officially given from Russia till now.