US to impose trade sanctions on major Russian oil companies
Washington, October 23 (Hibya) – The United States announced today that it will impose trade sanctions on Russia’s two largest oil companies. The US President complained that his talks with the Russian leader have yielded no results.
US President Donald Trump today announced “tremendous” trade sanctions against Russia’s two largest oil companies, Rosneft and Lukoil.
US Treasury Secretary Scott Bessent said about the sanctions: “Now is the time to stop the slaughter and implement a ceasefire immediately. After Putin’s refusal to end this senseless war, the Treasury is imposing sanctions on Russia’s two largest oil companies that finance the Kremlin’s war machine.”
Trump said, “Every time I talk to Vladimir, we have a good conversation, but then nothing comes out of it. Nothing comes out of it.”
Trump expressed hope that the sanctions on the oil companies would be short-lived. He and Rutte both said they hope a resolution to the war in Ukraine will be found soon.
Last week, Trump spoke by phone with Russian President Vladimir Putin and had planned to meet him soon in Budapest to discuss peace in Ukraine. However, after Russia refused ceasefire talks and continued its attacks on Ukraine, Trump canceled the meeting.
Following Trump’s announcement of the sanctions, oil prices in Asian markets rose by three percent. These sanctions also target Rosneft and Lukoil subsidiaries and foreign financial institutions doing business with them.
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