US Hits Russia with Oil Sanctions Amid Nuclear Tensions: In a significant escalation of economic pressure amid rising tensions between the United States and Russia, President Doland Trump’s administration on Wednesday announced tough economic sanctions on Russia’s two largest oil companies. This move by Washington is part of increasing pressure on Moscow to stop the war in Ukraine. President Trump stated that his talks with Russian President Vladimir Putin were fruitless and that it was time to stop the violence.

What Did US Treasury Secretary Say On The Latest Sanctions?

US Treasury Secretary Scott Bessant took to X and shared a post stating that due to Russian President’s refusal to end the war, the US Treasury Department is imposing sanctions on two of Russia’s largest oil companies.

“Now is the time to stop the killing of innocent people and call for an immediate ceasefire. Due to President Putin’s refusal to end this senseless war, the Treasury Department is imposing sanctions on two of Russia’s largest oil companies, which finance the Kremlin’s war machine. The United States stands ready to take further action if necessary. We urge our allies to join in these sanctions,” he said.

STORY HIGHLIGHTS

• US imposes tough oil sanctions on Russia amid rising nuclear tensions.
• Treasury Secretary stated – sanctions target two major Russian oil firms funding the war.
• Trump hopes sanctions won’t last long, calling for a peaceful resolution.
• Sanctions aim to cut Kremlin’s war revenue and push Russia toward peace talks.

What Did Doland Trump Say?

President Trump also responded on the fresh escalation of economic pressure on Moscow, hoping that the oil sanctions don’t last long. “These are very significant sanctions. We hope they don’t last long. We want a resolution to this war,” Trump said.

The US Treasury Department stated that these sanctions are expected to increase economic pressure on Russia’s energy sector. The sanctions also aim to weaken the Kremlin’s ability to raise revenue. No revenue means no more fuelling the war machine.

“This step is a result of Russia’s lack of seriousness in the peace process. Today’s action will increase pressure on Russia’s economy and help bring it toward negotiations to end the war. Lasting peace is possible only if Russia is willing to engage in sincere negotiations,” the department said in a statement.