U.S. President Donald Trump abruptly canceled a planned meeting with Russian President Vladimir Putin this week, citing unresolved tensions over the Russia-Ukraine conflict. “It just didn’t feel right,” Trump told reporters, leaving diplomats scrambling and global markets on edge. 🌍💥
From Summit Hopes to Sanctions
The cancellation came hours after the U.S. announced sweeping sanctions targeting Russia’s top two oil producers, Rosneft and Lukoil, which account for nearly half of the country’s crude exports. The move aims to force Moscow into agreeing to an “immediate ceasefire” in Ukraine, said Treasury Secretary Scott Bessent. 💼🔥
Trump had initially floated the Putin meeting as a chance to broker peace, but skepticism grew after he emphasized avoiding a “wasted meeting.” Kremlin officials, meanwhile, stressed that “serious preparation” was still needed before any talks.
Why This Matters
With oil prices already volatile, the sanctions could ripple through global energy markets. Rosneft and Lukoil exported ~2.2 million barrels daily in early 2024—now at risk of disruption. 📉⚡
This marks the latest escalation in Western pressure on Russia, which has faced sanctions since the conflict began in 2022. Will Europe join the U.S. in tightening restrictions? Analysts say the geopolitical chess game is far from over. ♟️🌐
