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Trump Imposes Sanctions On Russian Oil Companies, Says Putin Talks 'Don't Go Anywhere'

The sanctions, imposed against Rosneft and Lukoil - as well as dozens of subsidiaries is reportedly due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine".

Representative image | Photo: @mfa_russia on X via PTI
Summary
  • Donald Trump imposed sanctions on Russia’s two largest oil companies after expressing frustration over peace talks not leading anywhere.

  • The sanctions, imposed against Rosneft and Lukoil - as well as dozens of subsidiaries is reportedly due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine".

  • While speaking to reporters in the Oval office on Wednesday, Trump criticised Putin for not being serious about making peace.

United States President Donald Trump imposed sanctions on Russia’s two largest oil companies after expressing frustration over peace talks not leading anywhere. The decision came one day after Trump said a meeting planned with Russian President Vladimir Putin in Budapest would be shelved indefinitely.

"Every time I speak to Vladimir, I have good conversations and then they don't go anywhere. They just don't go anywhere," President Donald Trump said, after a meeting with Nato Secretary-General Mark Rutte to discuss peace negotiations, AFP reported. 

The sanctions, imposed against Rosneft and Lukoil - as well as dozens of subsidiaries is reportedly due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine".

Russia, on Wednesday, conducted strikes on Ukraine killing at least seven people, including children. 

"Now is the time to stop the killing and for an immediate ceasefire," Treasury Secretary Scott Bessent said in a statement.

"Given President Putin's refusal to end this senseless war, the Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. We encourage our allies to join us in, and adhere to, these sanctions," he added.

While speaking to reporters in the Oval office on Wednesday, Trump criticised Putin for not being serious about making peace and said he hoped that the sanctions would help force a breakthrough. "I just felt it was time. We waited a long time," Trump said.

The United Kingdom had imposed similar sanctions on both the companies last week. 

Ahead of his meeting with Xi Jinping in South Korea next week, Trump has also claimed to discuss China’s purchase of Russian oil.

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