Trump Administration Introduces New Sanctions Targeting Russian Energy and Banking Sectors

WASHINGTON — The administration of U.S. President Donald Trump has announced a new round of sanctions aimed at the Russian energy and banking sectors, as reported by CBS News, citing sources familiar with White House plans. These measures are designed to further restrict key areas of the Russian economy, particularly the oil and gas sector, which remains a critical source of funding for Russia’s military operations.

The latest sanctions will tighten access for Russian companies to U.S. financial systems, alongside increased controls on energy exports. Notably, the Trump administration has opted not to extend waivers that were previously granted by the Biden administration in January 2025. These waivers allowed certain Russian banks—including VEB, Sberbank, VTB, Alfa Bank, and the Central Bank of Russia—to facilitate transactions related to energy payments. As a result, such transactions will now be completely blocked, significantly hindering Russia’s ability to export oil and gas to international markets, particularly to nations reliant on U.S. payment systems.

Reuters reports that the sanctions specifically target major Russian oil firms such as Gazprom Neft and Surgutneftegaz, which play pivotal roles in the country’s energy exports. Additionally, over 180 tankers used by Russia to bypass sanctions through a so-called “shadow fleet” are also affected. These vessels, registered in third countries, have enabled Moscow to continue supplying oil to markets in China, India, and beyond, despite earlier Western restrictions. Recent reports indicate that some Indian banks, which account for roughly 40 percent of Russian oil imports, have begun blocking payments for these deliveries, leading to disruptions in trade.

Experts warn that the new sanctions could cost the Russian economy billions of dollars annually, particularly as Russia has already lost a significant share of the European gas market following the cessation of transit through Ukraine in early 2025. Analysts at the Atlantic Council project that Russia could see a revenue loss of up to $24 billion in the coming year, translating to approximately one percent of the country’s projected GDP.