The Story The financial fight for Ukraine
Oct 24, 2025
Maxim Tucker, Ukraine correspondent for The Times and The Sunday Times, shares his insights on the implications of recent U.S. sanctions against Russia’s oil giants. He discusses how these financial pressures could potentially weaken Putin's war efforts and reshape global banking practices. Tucker also examines the European Union's strategies involving frozen Russian assets and the mixed reactions within Ukraine. With complexities in negotiations and the role of China, Tucker warns of the long path ahead for peace.
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Trump's Major Political Signal
- Donald Trump's sanctions against Russia's biggest oil firms mark his strongest political support for Ukraine since taking office.
- Maxim Tucker says this signals a rare, significant policy shift constrained by US Congress and European pressure.
Targeting Rosneft And Lukoil
- Sanctioning Rosneft and Lukoil prevents dollar-based transactions with those firms and raises global oil prices.
- Tucker warns the move is unprecedented and has already pushed oil prices up, affecting global markets.
Reassess Business Ties Immediately
- Compliance officers must reassess any business links to Rosneft and Lukoil to avoid punitive measures.
- Third-party buyers like India should weigh reputational and legal risks before continuing purchases.