U.S. President Donald Trump abruptly canceled a planned meeting with Russian President Vladimir Putin on Wednesday, citing unresolved disagreements over efforts to resolve the Russia-Ukraine conflict. The announcement came hours before the U.S. imposed sweeping sanctions on Russia's two largest oil producers, escalating economic pressure on Moscow.
"We canceled the meeting with President Putin. It just didn't feel right to me," Trump told reporters at the White House, emphasizing that negotiations required "serious preparation." The cancellation follows days of uncertainty after Trump initially proposed the summit during a phone call with Putin last week.
Sanctions Target Energy Lifeline
The U.S. Treasury Department announced sanctions against state-controlled Rosneft and private giant Lukoil, which collectively account for nearly half of Russia's crude oil exports. Treasury Secretary Scott Bessent stated the measures aim to force "an immediate ceasefire" in Ukraine, warning of further action if Russia resists diplomatic solutions.
Analysts note the sanctions could disrupt global energy markets, given Russia's role as a top oil exporter. Bloomberg estimates show Rosneft and Lukoil exported 2.2 million barrels daily in early 2024.
Kremlin spokesman Dmitry Peskov responded cautiously, telling reporters: "The timing of any potential dialogue remains open." The development marks the latest chapter in Western sanctions imposed since Russia's 2022 military operation in Ukraine, with U.S. officials urging allies to maintain unified economic pressure.
