Trump cancels Putin meeting and imposes major sanctions on Russia’s oil

President Donald Trump has cancelled his upcoming meeting with Vladimir Putin, saying talks had stalled and “were not moving in the right direction.”

The announcement came hours before Washington unveiled sweeping sanctions against Russia’s top oil companies, Rosneft and Lukoil, accusing them of financing the Kremlin’s war in Ukraine.

Treasury Secretary Scott Bessent called the move a major escalation, designed to choke Moscow’s energy revenues and pressure it into a ceasefire.

The sanctions freeze assets linked to the firms and restrict global transactions involving Russian crude, as the U.S. urges allies to take similar action.



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