US Mulls Rosneft, Lukoil Sanctions if Putin Balks on Ceasefire

The US is weighing the threat of sanctions against Russian oil companies Rosneft PJSC and Lukoil PJSC as part of a menu of options to push President Vladimir Putin to accept a ceasefire with Ukraine, people familiar with the matter said.

Sanctions on the two Russian oil majors would aim to squeeze the Kremlin’s energy revenues if Friday’s summit between President Donald Trump and Putin in Alaska fails to make progress, according to the people, who asked not to be identified discussing private deliberations. With concerns about the impact on prices, officials say the hope from Trump is that such a move — if taken — would be short-lived.