Trump Imposes Sanctions on Two Russian Oil Giants, Expresses Hope for Ukraine Peace

US, Oct 23 : For the first time in his second term, US President Donald Trump has imposed fresh sanctions on Russia, targeting its two largest oil companies, Rosneft and Lukoil, along with their subsidiaries, in a bid to influence the ongoing conflict in Ukraine. Officials from the US Treasury Department warned that additional measures could follow if necessary.

Speaking to reporters at the White House during a meeting with NATO Secretary General Mark Rutte, Trump expressed hope that the “war will be settled.” “These are tremendous sanctions…very big against their two big oil companies. And we hope that they won’t be on for long. We hope that the war will be settled,” he said.

Trump also reflected on previous discussions with Russian President Vladimir Putin, noting that past talks had not produced breakthroughs. “Every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere. He’s fighting a war. It’s two very competent sides. You never know with war, but it’s time to make a deal,” he emphasised.

Earlier, Trump cancelled a proposed meeting with Putin in Budapest, Hungary, saying it “didn’t feel right” and would likely be unproductive. The decision followed a phone call between US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov.

Last week, Trump had held a lengthy two-and-a-half-hour conversation with Putin, describing it as making “great progress.” A day later, he hosted Ukrainian President Volodymyr Zelensky at the White House, calling the meeting “very interesting and cordial.” Trump urged both leaders to halt the violence and “make a DEAL,” suggesting they “stop where they are” and “claim victory.”

After previously mediating a ceasefire in Gaza, Trump has now turned his focus to the Russia-Ukraine war, stepping up efforts to end the conflict. His highly publicised summit with Putin in Alaska in August, however, ended without any formal agreement.