US Bans Russian Oil Giants Over Putin's Failure To End 'Senseless War'

The US has launched devastating sanctions on Russia’s oil giants, Rosneft and Lukoil, targeting nearly half of Moscow’s crude exports to cripple the Kremlin’s funding of the Ukraine war. After a failed peace call, President Trump, frustrated by Putin’s refusal to negotiate honestly, canceled a Budapest summit, prompting Treasury Secretary Scott Bessent to unveil one of the largest sanction packages ever. With oil prices surging and Russia facing gas station queues, NATO’s Mark Rutte praises the move, citing Russia’s economic woes and battlefield setbacks. These sanctions aim to force a ceasefire, but Trump’s threats of Tomahawk missiles to Ukraine signal rising tensions.

The global squeeze on Russia intensifies as India faces secondary sanctions for buying Russian oil and Europe bans Russian LNG by 2027, targeting Moscow’s shadow fleet. With 5,000-7,000 soldiers dying weekly in the four-year Ukraine conflict, the deep hatred between Putin and Zelenskyy complicates peace efforts. This bold US move, backed by NATO, seeks to shift Putin’s calculus, but risks escalating the crisis further.