Sanctions against Lukoil and Rosneft already reduced moscow's revenues - US Treasury

The US Treasury Department has said that sanctions previously imposed on oil companies Lukoil and Rosneft are already reducing the aggressor country russia's oil revenues.

According to Reuters, the US Treasury Department issued a statement on Monday, November 17.

The department noted that an analysis of the initial impact of the sanctions showed that they are having the desired effect, reducing russia's revenues by lowering the price of russian oil. This affects moscow's ability to finance a full-scale war against Ukraine.

The analysis says that several key grades of russian oil were sold at the lowest prices in several years, and notes that almost a dozen major Indian and Chinese buyers of russian oil have announced their intention to suspend purchases of russian oil.

The Department also added that it is ready to take additional measures, if necessary, to put an end to the senseless war.

As the Ukrainian News agency earlier reported, yesterday, November 17, Republican Senator Lindsey Graham said, that the US Senate has begun the process of adopting a bill that will allow President Donald Trump to strengthen sanctions against russia.

On Sunday, November 16, Trump announced "severe" sanctions against countries that trade with russia.

On November 14, the Financial Times wrote, citing sources, that the Trump administration intends to push russian gas out of Europe.