US Imposes Sanctions on Russia’s Oil Giants Amid Escalating Ukraine Conflict

The United States has announced new sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil, in a move aimed at pressuring Moscow to engage in peace negotiations over the ongoing conflict in Ukraine. The sanctions come as part of a broader strategy to compel Russia to seek a resolution to the war that has led to significant loss of life and widespread destruction.

Speaking after a meeting with NATO Secretary-General Mark Rutte at the White House, President Donald Trump emphasized the challenges of diplomacy with Russian President Vladimir Putin. The announcement of sanctions followed Trump’s decision to indefinitely delay a planned meeting with President Putin, which had been scheduled to take place in Budapest. Trump cited the current geopolitical situation as the reason for postponing the summit.

The sanctions come amidst an escalation in violence. Earlier on Wednesday, Russia launched a heavy bombardment on Ukrainian cities, resulting in the deaths of at least seven people, including children. This attack has raised concerns about the worsening humanitarian situation in the region.(Agencies)