The Trump administration appears to have shifted its strategy on the Ukraine war, moving away from brokering peace talks and toward direct economic pressure on Moscow. The US has sanctioned Russian oil giants Rosneft and Lukoil.
This move, the first major sanction of Trump’s new term, comes amid growing frustration with stalled negotiations. The administration is now targeting the “Kremlin’s war machine” by cutting off its oil revenue.
The shift was confirmed by President Trump, who announced he had cancelled a planned summit with Vladimir Putin. “It didn’t feel right to me,” Trump said. “It didn’t feel like we were going to get to the place we have to get.”
Treasury Secretary Scott Bessent called for an “immediate ceasefire” and warned that the Treasury “is prepared to take further action if necessary” if Putin continues the “senseless war.”
The move was welcomed by European Commission President Ursula von der Leyen. She praised the “clear signal” of transatlantic unity and confirmed the EU’s 19th sanctions package was “imminent.”