"Donald Trump has imposed sanctions on Russia's two largest oil companies after concluding that Vladimir Putin was not being honest and forthright in Ukraine talks, the US treasury chief has said. The sanctions against Rosneft and Lukoil came a day after a planned Trump-Putin summit in Budapest was shelved, with Washington expressing its disappointment at the lack of progress in ceasefire negotiations with Moscow."
"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, the US treasury secretary, Scott Bessent, said on Wednesday. He warned that the Treasury was prepared to take further action if necessary to support Trump's efforts to end the war. Speaking to Fox Business before the official announcement, Bessent said the move was one of the largest sanctions that we have done against the Russian Federation."
Sanctions target Russia's two largest oil companies, Rosneft and Lukoil, after a US determination that Vladimir Putin was not honest in Ukraine talks. The measures followed the shelving of a planned Trump–Putin summit in Budapest amid a lack of progress on ceasefire negotiations. The Treasury framed the actions as aimed at companies that fund the Kremlin's war machine and described the package as one of the largest imposed against the Russian Federation. The Treasury indicated preparedness to take further steps if necessary to support efforts to end the war. The European Union also announced complementary sanctions, including an LNG import ban by 2027, tanker blacklisting, and diplomatic travel curbs.
Read at www.theguardian.com
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