Donald Trump has finally decided to hit Russia with sanctions – the first package he has imposed since he came back to the White House in January.
The sanctions target Rosneft and Lukoil, Russia’s two largest oil companies, as a retaliation for Vladimir Putin’s refusal to agree to a ceasefire in Ukraine. The announcement came in the wake of the decision to call off a planned summit between the two leaders in Budapest next month.
The US treasury secretary, Scott Bessent, said in a statement: “We encourage our allies to join us in and adhere to these sanctions.” In fact the EU has imposed 19 rounds of sanctions against Russia since the full-scale invasion in 2022.
