US Imposes "Massive" Sanctions on Russia's Two Largest Oil Companies: Trump Aims to Push Putin Towards Ukraine Peace Talks

The United States announced new sanctions targeting Rosneft and Lukoil, Russia's two largest oil companies. The move is intended to increase pressure on Moscow to negotiate a peace agreement in Ukraine.

US President Donald Trump made the announcement from the Oval Office, following his meeting with NATO Secretary-General Mark Rutte to discuss peace efforts. Trump stated: "I felt the time was right. We have waited too long." This action comes just one day after Trump announced the indefinite suspension of his planned meeting with Russian President Vladimir Putin.

Oil Companies Fund "Kremlin's War Machine," Call for End to Killing

Earlier on Wednesday, Russia escalated tensions by launching intense shelling on Ukraine, resulting in the deaths of at least seven people, including children.

US Treasury Secretary Scott Bennett announced the new sanctions, affirming they were the result of "Putin's refusal to end this senseless war." He noted that these oil companies finance the Kremlin's "war machine." In an official statement, Bennett said: "The time has come to stop the killing and achieve an immediate ceasefire," indicating that his department "will take additional action if necessary" to support Trump's efforts to end the conflict.

Trump described the new sanctions package as "massive," expressing hope that they would achieve tremendous progress in peace talks. The US President also affirmed his hope that these sanctions would be lifted soon if Russia agrees to end the war.