White House announces new sanctions on Russian oil companies

Geopolitical & Economic Sanctions - The US administration is imposing new sanctions on Russia, targeting its two largest oil companies and dozens of subsidiaries [1][3][4] - These sanctions come after a planned meeting between President Trump and Vladimir Putin in Budapest was cancelled due to lack of progress on a ceasefire agreement [1][2][5] - The US Treasury Secretary indicated these sanctions were coming earlier in the afternoon [4] - Secretary of State Marco Rubio had a phone call with Russian Foreign Minister Sergey Lavrov, which made it clear that Russia was not interested in peace at this point [6] - The US president felt that a face-to-face meeting with Putin would not be productive at this time [6] - The president is not ruling out a meeting with Putin in the future, but the time is not right [7] US-Ukraine Relations - Ukraine had called for these sanctions [3] - Ukraine had also requested long-range tomahawk missiles, which President Trump has not yet approved [3]