Trump cancels meeting with Putin and imposes sanctions: what we know
23 October 02:08
US President Donald Trump has officially withdrawn from the planned summit in Budapest, where he was to meet with Kremlin dictator Vladimir Putin. He made the announcement during a meeting with NATO Secretary General Mark Rutte in the Oval Office, "Komersant Ukrainian" reports
According to Trump, he saw no prospects for achieving concrete results:
“Every conversation with Vladimir is good, but they don’t lead to anything. I felt that we could not get what we needed.”
The President emphasized that he does not intend to “waste his time” if Russia is not ready to take real steps towards him.
Sanctions instead of negotiations
Immediately after Trump’s announcement, the US Treasury Department unveiled a new package of sanctions against Russia. The blacklist includes Russia’s largest oil companies, which provide the main revenues to the Russian budget.
The sanctions are aimed at the two largest oil companies in Russia – Rosneft and Lukoil.
These companies are included in the sanctions list in accordance with US Presidential Decree 14024 due to their activities in the energy sector of the Russian Federation.
The sanctions list also includes 30 subsidiaries of Rosneft and Lukoil. All companies in which Rosneft or Lukoil have a 50% or more stake, directly or indirectly, face blocking, even if they are not on the official list.
The additional restrictions were a reaction to Russia’s lack of commitment to a peaceful resolution of the conflict.
“Today, the Office of Foreign Assets Control (OFAC) is imposing additional sanctions on Russia for its lack of serious commitment to the peace process to end the war in Ukraine,” the US Treasury Department said in a statement.
With these actions, the United States is increasing economic pressure on the Russian energy sector, which complicates the Kremlin’s ability to obtain funds to finance its military activities and stabilize its weakened economy.
The American side emphasized that ensuring a lasting peace requires Russia’s readiness for constructive negotiations. The Ministry of Finance noted that it will continue to use the necessary tools to facilitate the peace process.
“It is time to stop the killing and declare an immediate ceasefire. As President Vladimir Putin refuses to end this senseless war, the Treasury Department is imposing sanctions on two of Russia’s largest oil companies that finance the Kremlin’s war machine. We stand ready to take further action, if necessary, to support President Donald Trump’s efforts to end another war. We call on our allies to join us in upholding these sanctions,” said U.S. Treasury Secretary Scott Bessent.
What it means
The United States is increasing pressure on the Kremlin in response to Russia’s aggressive policy.
The White House is signaling that there will be no negotiations without concrete concessions from Moscow.
Oil sanctions could have a significant impact on the Russian economy, which is critically dependent on energy exports.
Trump does not rule out a meeting in the future
Despite the cancellation of the summit, the US president said he remains open to dialogue in the future if Russia demonstrates a willingness to reach real agreements.
