US President Donald Trump has imposed sweeping new sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, after shelving plans for peace talks with Vladimir Putin. The move marks a major policy shift, as Trump had previously resisted sanctions while urging Europe to end purchases of Russian oil. Frustrated by Moscow’s failure to negotiate, he said his conversations with Putin “don’t go anywhere,” calling the sanctions “tremendous” and expressing hope they could be lifted if Russia agrees to halt its war in Ukraine. Treasury Secretary Scott Bessent said the measures target the Kremlin’s “war machine,” which is heavily funded by oil exports. Ukrainian President Volodymyr Zelensky welcomed the action as a “good signal,” urging continued global pressure. The sanctions follow similar steps by the UK and EU, which also banned Russian liquefied gas imports by 2028. Despite economic pressure, Russia insists it remains “immune” and continues airstrikes across Ukraine, where civilian casualties—including children—remain high.