Trump states Putin discussions ‘lead to nothing’ as he enforces additional sanctions

The United States has unveiled fresh sanctions aimed at Russia’s two largest oil firms – Rosneft and Lukoil – as part of an effort to compel Moscow to engage in peace discussions regarding Ukraine.

“Each time I converse with Vladimir, the discussions are productive, yet they ultimately lead nowhere. They simply stall,” President Donald Trump remarked following a meeting with Nato Secretary-General Mark Rutte regarding peace talks.

The announcement of sanctions followed just one day after Trump disclosed that a meeting originally scheduled with Russian President Vladimir Putin in Budapest would be indefinitely postponed.

Earlier on Wednesday, Russia launched a severe attack on Ukraine that resulted in the deaths of at least seven individuals, including children.

US Treasury Secretary Scott Bessent stated that the new sanctions were imperative due to “Putin’s unwillingness to end this irrational conflict.” He mentioned that these oil companies finance the Kremlin’s “war apparatus.”

“Now is the moment to end the violence and call for an immediate ceasefire,” Bessent expressed in a statement.

While alongside Rutte in the Oval Office on Wednesday, Trump condemned Putin for not taking the peace process seriously and expressed hope that the sanctions would facilitate a breakthrough.

“I just sensed it was the right time. We’ve waited a long time,” Trump stated.

He described the sanctions as “significant,” adding his hope that they could be lifted quickly if Russia consents to halt the war.

Rutte also commended the action, stating it was “increasing pressure” on Putin.

“Pressure must be applied, and that’s precisely what he accomplished today,” Rutte remarked.

This action comes as the differences in proposals for peace between the US and Russia have become increasingly apparent this week. Trump has suggested that a central issue is Moscow’s refusal to halt fighting along the existing front lines.

US Secretary of State Marco Rubio indicated that the US still aims to engage with Russia.

Last week, the UK imposed a comparable sanctions package against Rosneft and Lukoil.

“Russian oil has no place in global markets,” UK Chancellor Rachel Reeves stated during the announcement.

In response to the UK actions, Russia’s embassy in London claimed that targeting its major energy firms would disturb global fuel supplies and elevate costs internationally.

They also noted that the sanctions would have “an adverse effect on the energy security” of developing nations, stating that “pressure only complicates peaceful discussions and escalates tensions further.”

The two Russian oil companies export 3.1 million barrels of oil daily. Rosneft accounts for nearly half of all Russian oil production, representing 6% of global output, as per estimates from the UK government.

Oil and gas constitute Russia’s primary exports, with its major buyers including China, India, and Turkey. Trump has additionally called on these nations to cease imports of Russian oil in an attempt to exert economic pressure on the Kremlin.

Trump’s action received acclaim from UK Foreign Secretary Yvette Cooper, who remarked that the US sanctions are “strongly welcomed”.

EU Commission President Ursula Von der Leyen communicated via X that she had a phone discussion with Bessent on Wednesday regarding “Russia’s lack of commitment to the peace negotiations”.

She also praised a new sanctions package approved by the European Union on Wednesday, which includes a prohibition on imports of Russian liquefied natural gas.

“With the forthcoming adoption of the EU’s 19th package, this serves as a clear message from both sides of the Atlantic that we will maintain collective pressure on the aggressor,” she stated.

Earlier this year, the UK and US also sanctioned significant Russian energy firms Gazprom Neft and Surgutneftegas.

At the White House, Rutte was expected to talk about a 12-point strategy developed by European NATO allies and Kyiv, which would freeze current front lines, facilitate the return of deported children, and establish a prisoner exchange between both conflicting nations.

The strategy also encompasses a war recovery fund for Ukraine, security pathways, and a clear approach for Ukraine’s accession to the EU, along with increased military assistance to Kyiv and economic pressure on Moscow.

Earlier in the week, Trump expressed his reluctance for a “fruitless meeting” with Putin in Budapest, indicating that a significant issue is Moscow’s unwillingness to cease hostilities along the prevailing frontlines of the conflict.

His last encounter with Putin occurred in Alaska at a summit the White House had hoped would culminate in the conflict’s resolution. Instead, the violence has persisted.

A preparatory meeting between US Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov was also called off. The meeting originally planned for this week was deemed no longer “necessary” following a “productive” phone call, as per the White House.

Trump has continually supported proposals to halt fighting along existing frontlines.

“Let it be defined as it is,” he stated on Monday. “I said: define it and halt at the battle line. Go home. Cease fighting, stop killing people.”

Russia has rejected that proposition, with Kremlin spokesperson Dmitry Peskov asserting that “Russia’s stance remains unchanged” – referring to its demand for Ukrainian troops to withdraw from the Donbas region in eastern Ukraine.

On Wednesday, Trump also refuted claims in the Wall Street Journal suggesting that the US had authorized Ukrainian long-range missile attacks on Russia, branding it “false news.”

Ukrainian President Volodomyr Zelensky has indicated a desire for the US to provide long-range Tomahawk missiles to his military and proposed that the potential introduction of these weapons into the combat scenario might bring Russia to the negotiation table.

Pritti Mistry and Danielle Kaye contributed to this report