US Hardens Stance: Sanctions Hit Russian Oil, Trump Nixes Putin Summit

The Trump administration has significantly hardened its stance against Russia, canceling a planned presidential summit and imposing new sanctions on the Kremlin’s two largest oil companies.
The moves signal a breakdown in negotiations and growing US frustration with Vladimir Putin’s “refusal” to end the war in Ukraine. President Trump confirmed the summit was canceled, saying “It didn’t feel right” and that talks were not progressing.
Following the diplomatic freeze, the Treasury Department announced sanctions on Rosneft and Lukoil. Secretary Scott Bessent stated the goal was to cut off funding for the “Kremlin’s war machine” and called for an “immediate ceasefire.”
This new, tougher line marks a “swing of the pendulum” from earlier in the administration, when the White House was seen as pressuring Kyiv to make concessions. Now, the pressure is being applied directly to Moscow.
The US action was praised by European allies. EU President Ursula von der Leyen said it showed “collective pressure,” as the EU prepares its own new measures, including a ban on Russian LNG and restrictions on Russian diplomats.