US imposes sanctions on Russian oil over Putin’s ‘refusal’ to end war in Ukraine | US foreign policy
Donald Trump imposed sanctions on Russia’s two largest oil companies after concluding that Vladimir Putin was not “honest and forthright” in Ukraine talks, the US treasury chief said.
The sanctions against Rosneft and Lukoil came a day after the planned Trump-Putin summit in Budapest was scrapped; Washington has expressed disappointment at the lack of progress in ceasefire talks with Moscow.
“Given President Putin’s refusal to end this senseless war, [the] The Treasury is imposing sanctions on Russia’s two largest oil companies that are financing the Kremlin’s war machine,” U.S. Treasury Secretary Scott Bessent said Wednesday.
He warned that the Treasury was prepared to “take further action if necessary” to support Trump’s efforts to end the war.
Speaking to Fox Business before the official announcement, Bessent said that this move was “one of the largest sanctions we have imposed against the Russian Federation.”
Trump has delayed new sanctions for months, saying he hoped to persuade him to make peace despite growing frustration with Putin. But it appears the president’s patience has worn thin in the six days since he spoke to Putin on the phone last Thursday.
The European Union also announced new sanctions against Russia on Wednesday. These include a ban on imports of liquefied natural gas from Russia by 2027, a blacklisting of oil tankers used by Moscow, and travel restrictions on Russian diplomats.
