United States Enforces Restrictions on Russia's Oil Due to Putin’s Refusal to Cease Conflict in Ukraine
Donald Trump has enforced sanctions on Russia’s two largest petroleum firms after concluding that Vladimir Putin 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 the Hungarian capital got postponed, 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 Department is sanctioning the two biggest Russian oil companies that finance Russia’s military operations,” America’s Treasury chief, the Secretary, announced this week.
He cautioned that the Treasury Department was ready “to implement additional measures if necessary” to support Trump’s efforts to end the war.
In an interview with a business news network prior to the formal statement, the Treasury Secretary said the action was “among the biggest restrictions that we have done against the Russian Federation”.
The President has held off on fresh restrictions for several months, saying he hoped to persuade Putin to make peace despite growing frustration with him. But the president’s patience apparently ran out in the week after he talked to Putin over the phone last Thursday.
EU nations similarly declared additional restrictions on the Russian government on the same day. These involve a prohibition on bringing in liquefied natural gas from Russia by 2027, the blacklisting of petroleum vessels operated by Russia and travel restrictions on Russian diplomats.
