The US has increased sanctions pressure on Russia by banning foreign companies from making payments for Russian energy resources.

European countries can no longer buy oil from Russia. On March 12, the license that permitted Russian banks – such as Sberbank, Alfa-Bank, and the Russian Federation’s Central Bank – to conduct financial transactions in the energy sector for the purpose of trading natural gas, oil, oil products, coal, and uranium expired. The Trump administration has not yet extended it. According to reports, the decision not to extend the license is seen as a “negotiating tactic” aimed at persuading Russia to agree to a ceasefire.

Meanwhile, Trump is increasing his efforts to end the Russian-Ukrainian war, and the US is exploring potential cooperation with Russian Gazprom on international projects. Gazprom hopes to relaunch the Nord Stream pipeline and collaborate with the US on LNG production in the Arctic region.

The US, Germany, and Russia are reportedly negotiating the resumption of oil supplies via the Druzhba pipeline and Germany’s purchase of Russian gas, contingent upon Putin agreeing to a ceasefire.