Trump's Bold Sanctions: A Shift in U.S. Policy on Russia

President Donald Trump imposed Ukraine-related sanctions on Russian oil giants Lukoil and Rosneft, marking a major policy shift in his administration. The U.S. Treasury called for further actions unless Russia agrees to a ceasefire. This move follows previous reliance on trade measures, notably additional tariffs on India.

In a significant policy shift, U.S. President Donald Trump on Wednesday initiated Ukraine-related sanctions targeting major Russian oil companies, Lukoil and Rosneft. The decision underscores growing frustration with Russian President Vladimir Putin as the conflict persists.

The U.S. Treasury Department, urging Moscow to cease hostilities, indicated readiness for further action. Treasury Secretary Scott Bessent emphasized the impact of sanctions on Russia's economy and encouraged other nations to follow suit in isolating Russia.

Analysts see these sanctions as overdue yet critical, while President Trump canceled an anticipated summit with Putin, citing unfavorable timing. The impact on global oil markets and the dollar remains a concern as Trump balances sanctions enforcement with economic stability.

(With inputs from agencies.)