US President Donald Trump has slapped major sanctions on Russia’s two largest oil companies in hopes that the move will make Russian President Vladimir Putin “reasonable” about ending the war against Ukraine.
The sanctions against Russian oil companies Rosneft and Lukoil, as well as dozens of subsidiaries, came a day after a planned Trump-Putin summit in Budapest was shelved, with the Trump administration expressing its disappointment at the lack of progress in ceasefire negotiations with Moscow.
“They’ll certainly have an impact. They’re massive sanctions and sanctions on oil,” Trump said to reporters.
Trump held off on new sanctions for months, saying he hoped to persuade
Putin to make peace despite growing frustration with the Russian leader.
But the 79-year-old Republican’s patience apparently ran out in the space of the six days since he spoke to Putin last Friday, saying his conversations with Putin “don’t go anywhere”.
SBS News is Australia’s trusted news source for the latest news from Australia and across the world.
Subscribe to the SBS News YouTube channel: https://www.youtube.com/@SBSNews
Follow SBS News on Instagram: https://www.instagram.com/sbsnews_au
Follow SBS News on TikTok: https://www.tiktok.com/@sbsnews_au
Follow SBS News on X: https://www.twitter.com/SBSNews
Follow SBS News on Facebook: https://www.facebook.com/sbsnews
Apple News: https://trib.al/MTx0gUe
For the latest news, visit www.sbs.com.au/news
Network Terms & Conditions: https://sbs.com.au/terms
Privacy Policy: https://sbs.com.au/privacy
Feedback or complaints: https://sbs.com.au/complaints
