The Treasury Department announced new sanctions targeting Russia’s oil sector Wednesday, the day after President Donald Trump confirmed that a planned meeting with Russian President Vladimir Putin to discuss Russia's war with Ukraine was off.

The measures against Russian oil companies come as negotiations over ending the war in Ukraine have stalled.

The US is imposing sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, saying it wanted to “degrade” Vladimir Putin’s war chest and support Donald Trumps

U.S. President Donald Trump on Wednesday imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting oil companies Lukoil and Rosneft as his frustration grows with Russian President Vladimir Putin over the war.

The announcement comes as NATO Secretary-General Mark Rutte was due to meet with Donald Trump in Washington.

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

Swedish media said Gripens were used in direct combat for the first time this year, when Thailand deployed fighter jets in confrontations with Cambodia. Prior to that, the Gripen

These are very big," Trump said as he met with NATO Secretary-General Mark Rutte in the Oval Office. "They're against their two big oil companies, and we hope that they won't be on for long. We hope that the war will be settled.