The Trump administration’s policy on the Ukraine war has taken a sharp turn, moving from attempts at coercing Kyiv to sue for peace to direct economic pressure on Moscow. The US has now sanctioned Russia’s two largest oil companies, Rosneft and Lukoil, to cut funding for the Kremlin’s military.
This pendulum swing follows growing frustration with what administration officials see as Vladimir Putin’s “maximalist demands” in peace negotiations. The sanctions were announced by Treasury Secretary Scott Bessent, who demanded an “immediate ceasefire” and an end to the “senseless war.”
In a clear sign of this hardened stance, President Trump personally confirmed the cancellation of a high-stakes summit with Putin. “It didn’t feel right to me,” Trump explained, adding, “It didn’t feel like we were going to get to the place we have to get.”
The decision was hailed as a victory by Ukraine and its European allies. European Commission President Ursula von der Leyen praised the move as a “clear signal from both sides of the Atlantic” of “collective pressure on the aggressor,” noting the EU is also preparing its 19th sanctions package.
However, the administration’s new policy coherence was challenged by conflicting reports. Trump aggressively denied a story that he had authorized Ukraine to use British-supplied Storm Shadow missiles deep inside Russia. He called the story “FAKE NEWS!” on social media, insisting the “U.S. has nothing to do with those missiles.”