Published by Global Banking & Finance Review®
Posted on July 22, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleUS Energy Secretary proposes sanctioning Russian oil to pressure Russia into a peace agreement with Ukraine, leveraging US oil production power.
WASHINGTON (Reuters) -U.S. Energy Secretary Chris Wright said on Fox News on Tuesday that sanctioning Russian oil to end the Ukraine war is a "very real possibility."
President Donald Trump said this month that Washington could put 100% tariffs on buyers of Russian oil and impose other sanctions if Moscow does not agree to a major peace agreement with Ukraine, a deadline that ends in early September.
"It is huge pressure on Russia," Wright said in an interview on Fox News' "Special Report with Bret Baier."
"That's the biggest pressure you can put on them," Wright said.
The U.S. is the world's top producer of oil and gas, a position Wright said means the U.S. can take action that was previously unthinkable.
"We're able to do things that we couldn't do before," he said.
Despite that position, the Trump administration has not yet put major oil sanctions on Russia, preferring to impose them on OPEC producer Iran since the president took office for a second time in January.
(Reporting by Timothy Gardner; Editing by Leslie Adler and Jamie Freed)
A sanction is a penalty or restriction imposed by one country on another to influence its behavior, often used in the context of international relations and trade.
Oil production refers to the process of extracting crude oil from the earth, which is then refined into various petroleum products for use in energy and manufacturing.
The energy market encompasses the buying and selling of energy resources, including oil, gas, and renewable energy, influencing global prices and supply.
US oil production refers to the extraction of crude oil within the United States, making it one of the largest producers of oil and gas globally.
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