US Imposes Restrictions on Russia's Petroleum Over Putin’s Refusal to End War in Ukraine
The US President has enforced sanctions on the two biggest Russian petroleum firms following the conclusion that the Russian leader was not being “honest and forthright” in Ukraine talks, America’s Treasury Secretary has said.
These restrictions against Rosneft and Lukoil came a day after a scheduled meeting between Trump and Putin in Budapest got postponed, with the US administration voicing its frustration at the absence of advances in ceasefire negotiations with Moscow.
“Due to Putin’s unwillingness to end this senseless war, [the] treasury is imposing sanctions on Russia’s two largest petroleum firms that finance Russia’s military operations,” the US treasury secretary, the Secretary, said on Wednesday.
He warned that the Treasury Department was prepared “to take further action should it be needed” to support Trump’s efforts to end the war.
Speaking to a business news network prior to the formal statement, Bessent said the move was “among the biggest restrictions that we have done against the Russian Federation”.
Trump had delayed new sanctions for months, explaining he aimed to convince Putin to make peace even amid rising irritation with him. But the president’s patience seemed to expire in the week after he talked to the Russian leader over the phone the previous week.
EU nations also announced new sanctions on Russia on the same day. They include a prohibition on bringing in liquefied natural gas from Russia by the year 2027, the blacklisting of petroleum vessels operated by Russia and travel restrictions on Russian diplomats.
