Donald Trump imposes sanctions on Russia's two biggest oil firms in major policy shift

Donald Trump has imposed sanctions on Russia's two largest oil companies - and spoke of his frustration with Vladimir Putin.

In a major policy shift, new restrictions have been unveiled against Rosneft and Lukoil - as well as dozens of subsidiaries - due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine".

"Now is the time to stop the killing and for an immediate ceasefire," Treasury Secretary Scott Bessent said in a statement.

"Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. We encourage our allies to join us in, and adhere to, these sanctions."

The move marked a significant change for the Trump administration, which has veered between pressuring Moscow and taking a more conciliatory approach aimed at securing peace in Ukraine.

Trump frustrated with Putin

The US president has resisted pressure to impose energy sanctions on Russia, hoping that Putin would agree to end the fighting. But with no end in sight, he said he felt it was time.

Mr Trump explained he has a "very good relationship" with his Russian counterpart, but felt he had to cancel their planned meeting as "it didn't feel right to me".

In a sign of growing frustration, he told reporters: "It didn't feel like we were going to get to the place we have to get. So I cancelled it. But we'll do it in the future.

"I have good conversations. And then, they don't go anywhere. They just don't go anywhere."

He also hinted that the sanctions could be lifted if the Russian president was prepared to cooperate in peace talks.

"We hope that they [the sanctions] won't be on for long," he said in the Oval Office. "We hope that the war will be settled."

Trump wants Xi to help with Ukraine

Ahead of a meeting next week with Chinese President Xi Jinping in South Korea, Mr Trump said he would like Beijing to help put pressure on Moscow to halt the fighting.

"I think he [Xi] can have a big influence on Putin. I think he can have a big influence ... he's a respected man. He's a very strong leader of a very big country. And we will certainly be talking about Russia-Ukraine," he said.

Xi and Putin have formed a strategic alliance between their countries.

Ukraine denied Tomahawk missiles

However, Mr Trump warned he is not prepared to provide Ukraine with long-range Tomahawk missiles, which Kyiv has requested.

He explained it would take the Ukrainians up to a year to learn how to use the "highly complex" weapons.

"The only way a Tomahawk is going to be shot ... is if we shot it. And we're not going to do that.

"It takes a year of intense training to learn how to use it, and we know how to use it, and we're not going to be teaching other people."

(c) Sky News 2025: Donald Trump imposes sanctions on Russia's two biggest