US Imposes Sanctions on Russian Oil Over Putin’s Refusal to End War in the Region
Donald Trump has imposed restrictions on the two biggest Russian petroleum firms after concluding that the Russian leader had not been truthful and direct in negotiations over Ukraine, the US treasury chief stated.
These restrictions against Rosneft and Lukoil came a day after a scheduled meeting between Trump and Putin in the Hungarian capital was shelved, with the US administration expressing its disappointment at the lack of progress in ceasefire negotiations with Russia.
“Given President Putin’s refusal to end this senseless war, the Treasury Department is sanctioning Russia’s two largest petroleum firms that fund the Kremlin’s war machine,” America’s Treasury chief, Scott Bessent, announced this week.
He cautioned that the Treasury Department was prepared “to implement additional measures should it be needed” to back the President’s initiatives to conclude the conflict.
Speaking to Fox Business prior to the formal statement, Bessent said the action was “among the biggest restrictions that we have imposed on Russia”.
The President has held off on fresh restrictions for several months, explaining he aimed to convince the Russian President to reach a peace agreement despite growing frustration with him. But the president’s patience apparently ran out in the week after he talked to the Russian leader over the phone the previous week.
EU nations similarly declared additional restrictions on Russia on the same day. These involve a prohibition on bringing in LNG from Russia by the year 2027, the blacklisting of oil tankers operated by Russia and travel restrictions on Russian diplomats.
