On Thursday, former U.S. President Donald Trump announced the cancellation of his scheduled Budapest summit with Russian President Vladimir Putin and unveiled a fresh sanctions package aimed at Russia’s two largest oil and gas companies, Rosneft and Lukoil.
Washington’s New Sanctions Package
Trump said the sanctions would target the core of Russia’s war machine, striking directly at the financial engines that fuel the conflict. The U.S. Treasury emphasized that funding for the war comes from Rosneft and Lukoil.
Kremlin’s Response
Russian spokesperson Dmitry Peskov reiterated that the Kremlin’s policy is unchanged and that Russia still demands the withdrawal of Ukrainian forces from Donbas.
European Allies Back the Measures
Britain’s foreign affairs minister Yvette Cooper called the sanctions a decisive step, while EU Commission chief Ursula von der Leyen highlighted talks with U.S. Treasury Secretary Scott Bessent about Russia’s lack of engagement in the peace process.
Ukrainian and Russian Diplomatic Views
Ukrainian President Volodymyr Zelensky said a ceasefire is possible only with sustained pressure on Moscow, praising the EU’s simultaneous sanctions during a Brussels summit. Russian Kremlin official Vladimir Putin criticized the U.S. for insufficiently preparing a genuine peace proposal.
Expert Analysis of the Miscommunication
Diplomat Roman Bezsmertny argued that Putin’s call to Trump merely aimed to derail the U.S.–Ukraine meeting, while political scientist Serhiy Taran noted a mutual misunderstanding over negotiations about Donbas territory.
