US imposes Ukraine-related sanctions on Russian oil companies Rosneft, Lukoil
"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," Treasury Secretary Scott Bessent says.
US President Donald Trump has imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting oil companies Lukoil and Rosneft as his frustration grows with Russian President Vladimir Putin over the war.
The US Treasury Department, which issued the sanctions, said on Wednesday it was prepared to take further action as it called on Moscow to immediately agree to a ceasefire in Russia's war in Ukraine, which began in February 2022.
"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," Treasury Secretary Scott Bessent said in a statement.
"We encourage our allies to join us in and adhere to these sanctions."
The announcement came just one day after a White House official confirmed that a second planned meeting between Trump and Putin was put on hold.
'They don't go anywhere'
Trump said Wednesday he hoped that US sanctions slapped on Russia's two largest oil companies in response to the lack of progress on talks to end the Ukraine war could soon be lifted.
"These are tremendous sanctions... And we hope that they won't be on for long. We hope that the war will be settled," Trump told reporters in the Oval Office, sitting alongside NATO Secretary General Mark Rutte.
He said that his conversations with Putin on ending the Ukraine war are "good" but ultimately "don't go anywhere."
"Every time I speak with Vladimir, I have good conversations, and then they don't go anywhere," Trump said.
He also added that the summit with Putin was cancelled because it "didn't feel right to me."
"We cancelled the meeting with President Putin — it just didn't feel right to me," he added.