🔗 Share this article United States Enforces Sanctions on Russia's Oil Over Putin’s Unwillingness to Cease Conflict in Ukraine Donald Trump has imposed sanctions on Russia’s two largest oil companies after concluding that Vladimir Putin had not been “honest and forthright” in negotiations over Ukraine, America’s Treasury Secretary has said. These restrictions against Rosneft and Lukoil followed just one day after a scheduled meeting between Trump and Putin in Budapest got postponed, with the US administration expressing its disappointment at the absence of advances in ceasefire negotiations with Moscow. “Due to Putin’s unwillingness to stop this needless conflict, [the] treasury is sanctioning Russia’s two largest oil companies that finance Russia’s military operations,” the US treasury secretary, the Secretary, announced this week. He cautioned that the Treasury was prepared “to implement additional measures should it be needed” to back the President’s initiatives to end the war. In an interview with Fox Business before the official announcement, Bessent said the move was “among the biggest restrictions that we have imposed on Russia”. Trump had delayed new sanctions for months, explaining he aimed to convince Putin to reach a peace agreement despite growing frustration with him. But Trump’s tolerance seemed to expire in the six days after he talked to the Russian leader by telephone last Thursday. The European Union also announced additional restrictions on Russia on Wednesday. They include a ban on importing liquefied natural gas from Russia by the year 2027, the blacklisting of petroleum vessels operated by Russia and travel curbs on Russia’s diplomatic personnel.