Russian President Vladimir Putin has warned that the latest sanctions imposed by the United States were a gesture of “confrontation” but ultimately would do little to harm his nation’s economy.
Treasury Secretary Scott Bessent announced Wednesday that the U.S. was imposing major sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, saying they are being used to “fund the Kremlin’s war machine.”
Speaking to reporters in Moscow, Putin called the sanctions an “unfriendly act” and “serious,” noting they would likely drive up global oil prices but insisting they would not significantly damage Russia’s financial health.
The sanctions, which don’t take effect until Nov. 21, give Moscow a short time to reconsider its war in Ukraine.
President Donald Trump canceled a planned meeting with Putin after concluding the Russian leader was not being “honest and forthright” about his intention to end the war. Putin later suggested that the meeting was postponed, not canceled.
The European Union also announced new penalties on Wednesday, including a ban on importing Russian liquefied natural gas by 2027, blacklisting Moscow’s oil tankers, and imposing travel restrictions on Russian diplomats.
Ukrainian President Volodymyr Zelenskyy praised the combined efforts of the United States and Europe, saying: “We waited for this. God bless, it will work. And this is very important.”
Former Russian President Dmitry Medvedev called the new sanctions “an act of war against Russia” and labeled the U.S. an “adversary” on “the war path.”
Despite renewed U.S. peace efforts, the war continues after nearly four years, raising growing concern among European leaders about Russia’s ongoing threat.
There were mixed reports Wednesday regarding the Trump administration’s position on supplying Tomahawk missiles to Ukraine as the country seeks weapons capable of striking deep inside Russian territory.
The Wall Street Journal initially reported that the president had lifted previous restrictions on the use of Tomahawks in the 3½-year-long war. Trump swiftly denied the report on Truth Social, calling it “FAKE NEWS!”
© 2025 Newsmax. All rights reserved.
