OFAC sanctions Russia’s 2 largest oil companies, Rosneft and Lukoil, along with all subsidiaries they own by 50% or more, for operating in Russia’s energy sector and supporting its war effort

The action aims to intensify economic pressure on Moscow while urging an immediate ceasefire. OFAC also issued temporary general licenses allowing limited wind-down transactions until late November 2025 and warned that foreign financial institutions engaging in significant dealings with the sanctioned firms or Russia’s military-industrial base could face secondary sanctions…