In a bold move that has sent shockwaves through global energy markets, President Donald Trump announced new sanctions on Russian oil giants Rosneft and Lukoil, escalating economic pressure on Vladimir Putin’s war machine. The measures, unveiled Wednesday night, mark the first major Trump sanctions of the new term.
They are being described as some of the toughest sanctions and are aimed at Russia’s lucrative energy sector.
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Putin Condemns Trump Sanctions as “Unfriendly Act”
Russian President Vladimir Putin blasted the Trump sanctions as “an unfriendly act,” claiming the move would not damage Russia’s economy. Speaking to the Russian Geographical Society, Putin said, “Dialogue is better than war,” adding that global markets would “need time to adjust.”
But Western analysts disagree. “His market is diminished,” said Greg Newman, CEO of Onyx Capital Group. “I think it’s the same Trump strategy of maximum pressure that was used against Iran in his previous term, and I think it will be effective.”
