U.S. sanctions Russia's two largest oil companies

The U.S. Treasury Department has imposed new sanctions on Russia's two largest oil companies, a move that underscores escalating tensions following the cancellation of a meeting between President Trump and President Putin regarding the ongoing war in Ukraine. Treasury Secretary Scott Bessent emphasized the urgent need for a ceasefire, highlighting the humanitarian crisis caused by the conflict. These sanctions are significant as they aim to cripple Russia's oil revenue, which is vital for its economy, and reflect the U.S. commitment to holding Russia accountable for its actions.