Washington, DC: The United States announced new sanctions on Russia’s two largest oil companies – Rosneft and Lukoil in an effort to pressure Moscow to agree to an immediate ceasefire in its war with Ukraine, as Russia conducted major training exercises involving nuclear arms.
During a meeting with NATO Secretary-General Mark Rutte to discuss peace negotiations at the Oval Office this week, President Donald Trump said, “I just felt it was time. We waited a long time.” The US president had signalled for weeks that he could impose penalties on Russia for its failure to end the war with Ukraine, but couldn’t take the punitive measures until Wednesday.
The new sanctions on Russian oil companies came a day after Trump announced he had “canceled” an anticipated meeting with Putin, scheduled in Budapest, because he “didn’t feel like we were going to get to the place we have to get.” Meanwhile, the Russian strikes earlier this week killed at least seven people, including children, in Ukraine.
Trump said he hoped that sanctions against oil companies could pave a way for a breakthrough in the Ukraine war ceasefire. Calling the sanctions package “tremendous”, Trump hoped they could be withdrawn swiftly if Russia agrees to cease hostilities in Ukraine.
