Days after canceling a planned summit with Putin, citing a lack of progress toward ending the war in Ukraine, Trump took a major step by effectively blacklisting Rosneft and Lukoil.

The Treasury Department said new economic penalties will target Russia’s two largest oil companies, Rosneft and Lukoil, as well as their subsidiaries.

A top Kremlin official said President Donald Trump had launched an "act of war" against Russia with fresh sanctions on its largest oil companies and the cancellation of a proposed summit with Russian President Vladimir Putin.

President Donald Trump, during his long flight to Asia, said he hopes to work out a trade deal with China and assistance in getting Russia to end war with Ukraine.

Hungary’s Prime Minister Viktor Orbán was delighted to learn last week that Russia and the United States had chosen his country as the venue for another summit on ending the war in Ukraine.

America’s latest sanctions on top Russian oil producers throw India’s lucrative energy strategy into disarray, leaving it to navigate soaring costs, disrupted supplies, and the politics of managing relations with Washington and Moscow.

President Trump refuses to waste time on unproductive summit with Vladimir Putin, citing need for guaranteed Ukraine peace agreement before any meeting occurs.