U.S. sanctions Russia's 2 biggest oil firms after Trump cancels Putin summit

The U.S. imposed new sanctions against Russia's two biggest oil companies on Wednesday in an effort to press Russian leader Vladimir Putin to agree to a ceasefire, President Trump said. Why it matters: This is the first time the U.S. has imposed sanctions against Russia over the war with Ukraine since Trump assumed office. For months, Trump said imposing sanctions on Russia would undermine his diplomatic efforts to end the war. The shift suggest he thinks that approach has failed. The new sanctions come a day after Trump cancelled plans for a meeting with Putin. It signal's Trump's immense frustration with the Russian president.Behind the scenes: A U.S. official said Trump's frustration with Russia reached new heights after a call between Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov on Monday. The call ended with no progress and led to the conclusion that the Russians are not in a place that allow to reach a deal to end thew war and therefore there was no point of holding a meeting between Trump and Putin, the U.S. official said.That conclusion paved the way to Trump's decision to impose the new sanctions against Russia. Driving the news: The Treasury Department announced on Thursday it had imposed further sanctions against Rosneft Oil Company and Lukoil OAO. Both companies specialize in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products in Russia and internationally. The Treasury Department also sanctioned several subsidiaries of both companies. All property and interests of the designated companies or persons in the U.S. will be frozen and U.S. persons or entities will not be allowed to do business with them."The sanctions increase pressure on Russia's energy sector and degrade the Kremlin's ability to raise revenue for its war machine and support its weakened economy," the Department of Treasury said in a statement. What he's saying: In a meeting with NATO secretary general Marc Rutte shortly after the sanctions were announced, Trump said he felt it was time to impose the penalties on Russia. "I waited a long time. These are big sanctions. We hope they won't be on for long and that the war will be settled. We would like to see them take the line [of contact] and go home," Trump said of Russia and Ukraine.Trump added that he hoped Putin and Ukrainian President Volodymyr Zelensky "will become reasonable," adding: "It takes two to tango."Trump said he "cancelled" his planned meeting with Putin because he felt it is not going to lead to any results in the current time. "We will do it sometime in the future," he said. Trump said that every time he speaks to Putin, they have good conversations and then they don't go anywhere." Of note: He said one of the reasons he decided not to supply long-range Tomahawk missiles to Ukraine was that it takes six to 12 months to train on operating them.

Comments

World news

NDP leadership rivals at odds over 'purity test' framing

National Post

Trump says deadly strikes on suspected ‘narco boats’ are justified since 300,000 Americans were killed by drugs. He’s not even close

about 2 hours ago

Trump flooding San Francisco with border agents in ‘immigration surge operation’: report

Independent

Go nuclear or ‘go hungry’: GOP senators warm to drastic move of killing filibuster as voters suffer and shutdown nears record

about 4 hours ago

Amazon accused of denying workplace accommodations for pregnant and disabled staff

Independent

Comments

Similar News

Trump says tariffs ‘vital’ as U.S. Supreme Court set to test his authority

U.S. Sanctions Major Russian Energy Companies

U.S. to announce ‘substantial’ boost to Russia sanctions after Putin meeting nixed by Trump

300 Quebec workers laid off by truck manufacturer Paccar ahead of U.S. tariffs

U.S. sanctions Russia’s largest oil firms after latest attack on Ukraine

Canadian trips to the U.S. fell for the 8th straight month: StatCan

U.S. strikes new alleged drug-carrying boat — this time in Pacific Ocean

U.S. forces strike alleged drug boat off the coast of Colombia

U.S. kills two aboard alleged drug boat in Pacific, widening Trump’s campaign

Majority of Canadians would pay more for groceries from Canada, even if U.S. products cost less: poll

Jasmine Crockett "strongly" considering U.S. Senate bid

U.S. Strikes Boat in Pacific, Expanding Operation Against Drug Running Suspects

Confused by the U.S. economy? You're not alone

Snowbirds face ‘inconsistent’ fingerprinting rules at U.S. border, group says

Christopher Dummitt: In the U.S., historians can be rock stars. But not in Canada

Most Americans say U.S. on wrong track on economy, immigration and more: poll

Why the State Department handed U.S. informants over to El Salvador

‘Progress’ in U.S. trade talks but still work to be done on deal: LeBlanc

U.S. Vice President JD Vance arrives in Israel

Chess world mourns death of U.S. grandmaster Daniel Naroditsky at age 29

World news

NDP leadership rivals at odds over 'purity test' framing

Edmonton senior’s 1990 murder cold case has police searching for wells north of the city

Republicans are mad about Trump importing Argentine beef, but they don’t want to grill him just yet

Trump says deadly strikes on suspected ‘narco boats’ are justified since 300,000 Americans were killed by drugs. He’s not even close

Trump flooding San Francisco with border agents in ‘immigration surge operation’: report

Scoop: Homan says fentanyl as WMD "at least" merits discussion

Death threats for Sarkozy - less than a day into five-year prison sentence

Trump imposes sanctions on Russia's two biggest oil firms in major policy shift

Temu agrees to remove rip-off greeting cards from its site more quickly

Trump Imposes Sanctions on Russian Oil Companies as His Frustration With Putin Mounts

Blue Jays fans urged to be cautious of fake World Series tickets

Public health investigating salmonella outbreak linked to pistachios

Poilievre defends RCMP comments, denies saying Trudeau should be in jail

Saskatchewan health-care workers ‘at a breaking point,’ unions say

Trump says tariffs ‘vital’ as U.S. Supreme Court set to test his authority

Quebec coroners urge Montreal to install metro platform screens to prevent suicides

Court appearance put over for Alberta boy, 12, accused of trying to kill brother

2 men arrested in connection with Victoria Beach double homicide

BC Conservative committee pens letter asking John Rustad to resign

All of BC Wildfire Service joins BCGEU strike

‘Do we play the Jays game?’: Calgary bride faces World Series wedding dilemma

Christmas 2025 decor you’ll be seeing everywhere

Ford government open to releasing GM Ingersoll contract amid oppostion calls

Alberta NDP urges public to step up as striking teachers may face back-to-work bill

United States targets Russian oil giants over Vladimir Putin’s refusal to end 'senseless' war in Ukraine

Go nuclear or ‘go hungry’: GOP senators warm to drastic move of killing filibuster as voters suffer and shutdown nears record

Amazon accused of denying workplace accommodations for pregnant and disabled staff

California National Guard to support food banks due to expected food assistance delays

ICE director promises more deportation arrests in NYC after agents raided Canal Street vendors

Family rescued after being stranded on remote Massachusetts island for a day after their boat caught fire

Trump unveils new Russia sanctions – these are the companies the US is targeting

Trump’s East Wing demolition, briefly explained

U.S. Sanctions Major Russian Energy Companies

The Deep Roots of Afghanistan-Pakistan Border Violence

North Korea says latest missile tests demonstrate new hypersonic systems

Military and police patrol streets of Peru’s capital as state of emergency begins

Exclusive: Bernie Sanders slams media's coverage of Graham Platner