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The United States on Thursday sanctioned Russia’s two largest oil companies, Rosneft and Lukoil, for Moscow's lack of serious commitment to a peace process to end the war in Ukraine.

Rosneft is a vertically integrated energy company specialising in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products. Lukoil engages in the exploration, production, refining, marketing, and distribution of oil and gas in Russia and internationally.

Rosneft also owns a 49.13% stake in India-based Nayara Energy Ltd., which operates India's second-largest refinery at Vadinar in Gujarat with a capacity of 20 million tons per year.

"Today’s actions increase pres

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