Trump announces: We have canceled the meeting with Putin

The U.S. Department of the Treasury has added Russia's two major oil companies, Rosneft and Lukoil, along with their subsidiaries, to the sanctions list.

In a statement released by the department, it was reported that this step was taken because Russia has not shown a serious commitment to the peace process to end the war in Ukraine.

The statement, which included information that Russia's two major oil companies, Rosneft and Lukoil, were placed on the sanctions list, noted that the subsidiaries of these companies were also added to the list.

The statement conveyed that the sanctions would increase pressure on Russia's energy sector and "weaken the Kremlin's ability to generate revenue for the war and support its weakening economy."

Stating that the U.S. Department of the Treasury will continue to use its authorities to support the peace process, the statement included the following: "The U.S. will continue to advocate for a peaceful resolution to the war, and lasting peace depends entirely on Russia's willingness to negotiate in good faith."

U.S. Treasury Secretary Scott Bessent, whose views were included in the statement, also noted that sanctions were imposed on Russia's two largest oil companies, which provide financing for the war, due to Russian President Vladimir Putin's refusal to end the war.

Bessent stated, "The Treasury Department is prepared to take further steps if necessary to support President Trump's efforts to end another war. We call on our allies to join us and comply with these sanctions."