President Trump takes the UN General Assembly podium today, then meets President Zelensky in New York for the first time since signing the toughest Russia sanctions law of his presidency — one he has yet to enforce. Existing sanctions on Russia’s energy sector have already cut well over $1 trillion from Russia’s war budget, but the Kremlin still earns enough from energy exports to keep striking Ukrainian cities. Trump has the power to close that gap and force Russia to the table for real peace. Four days on, he hasn’t used it. Every day the law remains unenforced, Russia’s war continues to be fully financed, making immediate action critical.
That law already names exactly who to target. Buried in its text, Section 102 names the Yamal LNG and Arctic LNG 2 projects directly, and they are among Russia’s key sources of war revenue. It authorises sanctions against “a principal shareholder with a controlling or majority interest” in the project, as well as its leaders and board members. That shareholder is Novatek, the Russian gas giant that owns and controls over 50% of Yamal LNG and 70% of Arctic LNG 2. The US sanctions should also target the man behind that stake: Leonid Mikhelson, Novatek’s chairman, CEO and largest individual shareholder — already sanctioned by Britain, Canada, Australia and New Zealand. The United States hasn’t fully sanctioned any of these entities, a problem that must be resolved now.
Dr Svitlana Romanko, Founder and Executive Director of Razom We Stand, said:
“Every missile that’s sent Ukrainians running to an air raid bunker was paid for, in part, by Russian energy exports that have yet to be fully sanctioned. The law President Trump signed but has yet to implement already names the energy projects and targets the people who profit from them. Russian energy firm Novatek’s chairman is already sanctioned by four of America’s closest allies, but not yet the US.
President Trump doesn’t need to write a single new rule — he just needs to finalize the paperwork he already has the power to. Once implemented and enforced, this strong legislation can effectively dry up Russia’s war funds and finally force the Kremlin to the negotiating table, giving Ukrainians hope for a just peace.”
The new law holds still more sanctions measures, and there’s a third target hiding in plain sight. Yamal Trade Pte Ltd, a Novatek subsidiary registered in Singapore — a jurisdiction that doesn’t enforce Western sanctions — handles the charter contracts and fleet financial operations for Yamal LNG, including the fleet of 14 Icebrearing LNG carriers. The fleet is the operational core that keeps Yamal LNG’s money moving. None of it is sanctioned yet.
Yamal LNG still earned Europe’s buyers an estimated €7.28 billion (about $8.35 billion) in just the first eight months of 2026 — already more than all of 2025, and more than Russia spends running its entire war machine in over twelve days. This money funds strikes like the ones that killed at least five people across Ukraine’s frontline regions on Monday alone — including a three-year-old child in a village in Mykolaiv region, Reuters reported. Overnight, Russian drones also hit apartment blocks, a university and a shopping mall in Zaporizhzhia, wounding five more. Every day this money moves unsanctioned is a day that funds the next attack.
Razom We Stand is calling on President Trump to direct the Treasury Department to sanction:
- Novatek — as the principal shareholder with a controlling interest in Yamal LNG and Arctic LNG 2, using the authority the new law already gives him, rather than leaving it on the lighter sanctions list it’s sat on since 2014.
- Leonid Mikhelson — Novatek’s chairman, CEO and largest individual shareholder, using the same authority Britain, Canada, Australia and New Zealand have already used against him.
- Yamal Trade Pte Ltd — the Singapore-registered subsidiary handling Yamal LNG’s charter contracts for Yamal’s fleet, including the critical 14 Ice-breaking LNG carriers.
These aren’t just technicalities. Every day, money keeps moving to Russia unsanctioned, which is another day it can pay for the next strike, bringing Ukrainians the next blackout, or the next funeral. The law Trump signed already contains the ‘bone-crushing sanctions’ the late Senator Graham fought to pass, and now the President must act immediately to enforce them. Delaying enforcement prolongs Ukraine’s suffering and continues to destabilize the region with catastrophic consequences.
