President Donald Trump has slapped major 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 said Wednesday. The sanctions 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, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine," US Treasury Secretary Scott Bessent said in a statement announcing the sanctions against Rosneft and Lukoil.
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