US President Donald Trump has imposed major sanctions on Russia’s two largest oil companies after concluding his Russian counterpart Vladimir Putin was not being “honest and forthright” in Ukraine talks, the US Treasury chief said on Wednesday, i.e., October 22.
US President Donald Trump and Russian President Valdimir Putin (Image credit: Reuters)
US President Donald Trump has imposed major sanctions on Russia’s two largest oil companies after concluding his Russian counterpart Vladimir Putin was not being “honest and forthright” in Ukraine talks, the US Treasury chief said on Wednesday, i.e., October 22.
The sanctions come after a day a planned Trump-Putin summit in Budapest was shelved, with the States expressing its disappointment over the lack of progress in peace talks on the ongoing hostilities in Ukraine. “Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine,” US Treasury Secretary Scott Bessent said in a statement as he announced the sanctions against Rosneft and Lukoil.
He also stressed that the treasury was prepared to “take further action if necessary” to back Trump’s peace efforts. Ahead of the official announcement, Bessent spoke to Fox Business, calling the move “one of the largest sanctions that we have done against the Russian Federation.”
‘President Trump walked away when….’
“President Putin has not come to the table in an honest and forthright manner, as we’d hoped,” Bessent told Fox Business. He further revealed that when the two leaders met in Alaska in August, “President Trump walked away when he realized that things were not moving forward.”
“There have been behind-the-scenes talks, but I believe that the president is disappointed at where we are in these talks,” he added.
EU imposes sanctions on Russia
Besides the Trump administration, the European Union also said on Wednesday that it was imposing new sanctions on Moscow, which include a ban on importing liquefied natural gas from Russia by 2027, the blacklisting of oil tankers used by Moscow, and travel restrictions on Russian diplomats.
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